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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, 15 February 13
2ND ANNUAL INDONESIA MINING 2013 CONFERENCE
Bringing Indonesia's Mining Stakeholders Together Towards Improving Mining Investment Climate & Operations
Following the success of th ...
Friday, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk ma ...
Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...
Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization ...
Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...
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- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
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- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
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- Parliament of New Zealand
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- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
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- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
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- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
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- Petron Corporation, Philippines
- Economic Council, Georgia
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- Banpu Public Company Limited - Thailand
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- SN Aboitiz Power Inc, Philippines
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- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
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- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
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- Latin American Coal - Colombia
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- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Australian Coal Association
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
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- GN Power Mariveles Coal Plant, Philippines
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- White Energy Company Limited
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- Merrill Lynch Commodities Europe
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- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
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- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
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- Independent Power Producers Association of India
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- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Electricity Authority, New Zealand
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- New Zealand Coal & Carbon
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- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
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- Indian Oil Corporation Limited
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- IEA Clean Coal Centre - UK
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