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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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Saturday, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
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Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- VISA Power Limited - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Planning Commission, India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
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