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