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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, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
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