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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, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Australian Coal Association
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- The University of Queensland
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
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