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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
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