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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- Uttam Galva Steels Limited - India
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- The University of Queensland
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- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
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- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
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- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
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- McConnell Dowell - Australia
- Economic Council, Georgia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
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- Eastern Coal Council - USA
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- Vedanta Resources Plc - India
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- Samtan Co., Ltd - South Korea
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- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
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- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
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- Tata Chemicals Ltd - India
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- Sical Logistics Limited - India
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- MS Steel International - UAE
- Semirara Mining Corp, Philippines
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- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
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- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Parliament of New Zealand
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- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
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- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
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- Kalimantan Lumbung Energi - Indonesia
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- Chettinad Cement Corporation Ltd - India
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