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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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Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
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- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
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- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
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- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
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- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
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- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
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- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- PNOC Exploration Corporation - Philippines
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- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
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- Merrill Lynch Commodities Europe
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- Wilmar Investment Holdings
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- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
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- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
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- White Energy Company Limited
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
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- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
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- Economic Council, Georgia
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- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
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- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
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- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
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- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
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- SN Aboitiz Power Inc, Philippines
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- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
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- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
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- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
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- Leighton Contractors Pty Ltd - Australia
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- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
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