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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, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Australian Coal Association
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
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