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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Posco Energy - South Korea
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