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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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Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
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- Kumho Petrochemical, South Korea
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- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
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- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
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- Medco Energi Mining Internasional
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- ICICI Bank Limited - India
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- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
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- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
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- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
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- Indian Energy Exchange, India
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- Price Waterhouse Coopers - Russia
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- Standard Chartered Bank - UAE
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- Sojitz Corporation - Japan
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- Australian Coal Association
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- Semirara Mining Corp, Philippines
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- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
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- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
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- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
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- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
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- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
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- Indonesian Coal Mining Association
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- Aditya Birla Group - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
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- London Commodity Brokers - England
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- Thai Mozambique Logistica
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- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
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- Sical Logistics Limited - India
- The University of Queensland
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- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
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- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
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- PTC India Limited - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
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- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
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- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
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- Bhushan Steel Limited - India
- Central Electricity Authority - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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- Wilmar Investment Holdings
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- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
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- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
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