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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, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
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- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- The University of Queensland
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
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