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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, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- Australian Coal Association
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- The University of Queensland
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- PTC India Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
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