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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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Monday, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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