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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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Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Minerals Council of Australia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
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