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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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- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
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