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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, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- The University of Queensland
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
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