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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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Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
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