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