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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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Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
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- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
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- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
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- Romanian Commodities Exchange
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- Wood Mackenzie - Singapore
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- Energy Development Corp, Philippines
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- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
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- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
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- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
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- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
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- Australian Coal Association
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
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- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
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- Goldman Sachs - Singapore
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