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