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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Central Java Power - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Planning Commission, India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
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