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