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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Baramulti Group, Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Latin American Coal - Colombia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
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