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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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- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Parliament of New Zealand
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- The University of Queensland
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
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