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