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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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- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- White Energy Company Limited
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- PTC India Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
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