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