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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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Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Australian Coal Association
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
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