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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- The University of Queensland
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
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