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