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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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Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
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