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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Aditya Birla Group - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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