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