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