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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- VISA Power Limited - India
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