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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 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- White Energy Company Limited
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Australian Coal Association
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
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