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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- SMC Global Power, Philippines
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Australian Coal Association
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
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