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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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Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
" ...
Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
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- Romanian Commodities Exchange
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- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
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- Australian Coal Association
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- Sojitz Corporation - Japan
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- Planning Commission, India
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- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indian Oil Corporation Limited
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- Asmin Koalindo Tuhup - Indonesia
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- Thai Mozambique Logistica
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- Bahari Cakrawala Sebuku - Indonesia
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- Heidelberg Cement - Germany
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- Eastern Coal Council - USA
- Renaissance Capital - South Africa
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- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
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- ICICI Bank Limited - India
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- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
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- Altura Mining Limited, Indonesia
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- Ministry of Finance - Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
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- Trasteel International SA, Italy
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- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
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- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
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- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
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- PTC India Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
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- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
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- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
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- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
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- Cement Manufacturers Association - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Timah Investasi Mineral - Indoneisa
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