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