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