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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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Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
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- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Australian Coal Association
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
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