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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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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
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- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
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- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- MS Steel International - UAE
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- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
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