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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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Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Planning Commission, India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- PTC India Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
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