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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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Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
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