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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
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