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