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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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Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Tamil Nadu electricity Board
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- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
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- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
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- Electricity Authority, New Zealand
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- Parliament of New Zealand
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- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
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- Edison Trading Spa - Italy
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- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
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- Africa Commodities Group - South Africa
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- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
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- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
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- Indian Energy Exchange, India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
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- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
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- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
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- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
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- Chamber of Mines of South Africa
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- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
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- Independent Power Producers Association of India
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- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
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- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
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- Malabar Cements Ltd - India
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- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
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- MS Steel International - UAE
- The University of Queensland
- Power Finance Corporation Ltd., India
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- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
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- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- VISA Power Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Planning Commission, India
- Siam City Cement - Thailand
- PTC India Limited - India
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- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
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- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
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- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
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