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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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Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
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- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
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- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
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- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
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- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
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- Planning Commission, India
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- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
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- Mjunction Services Limited - India
- The University of Queensland
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- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
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- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
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- Australian Coal Association
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- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bangladesh Power Developement Board
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
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- Intertek Mineral Services - Indonesia
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- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
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- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
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- Indonesian Coal Mining Association
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
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- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
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- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
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- Indian Oil Corporation Limited
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- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
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