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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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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
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