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