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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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Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
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