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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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Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- London Commodity Brokers - England
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
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