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