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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, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
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