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