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