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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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Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Planning Commission, India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
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