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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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Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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- Interocean Group of Companies - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
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