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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, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
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