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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, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
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