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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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Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- The University of Queensland
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
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