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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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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- White Energy Company Limited
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
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