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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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Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
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- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Economic Council, Georgia
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- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
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- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
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- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
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- Price Waterhouse Coopers - Russia
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- Minerals Council of Australia
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- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
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- Maheswari Brothers Coal Limited - India
- Planning Commission, India
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- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
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- Standard Chartered Bank - UAE
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- Bukit Makmur.PT - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
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- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
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- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
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- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Indian Energy Exchange, India
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- Deloitte Consulting - India
- Dalmia Cement Bharat India
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- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- The University of Queensland
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- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
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- PowerSource Philippines DevCo
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- Malabar Cements Ltd - India
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- Independent Power Producers Association of India
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- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
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- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
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- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
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- Bharathi Cement Corporation - India
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