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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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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- The University of Queensland
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Planning Commission, India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
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