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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, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
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- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Thai Mozambique Logistica
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