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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
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- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Planning Commission, India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
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