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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, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
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