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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, 22 July 09
TAIPOWER RECEIVES 37 OFFERS IN TENDERS
State utility Taiwan Power has received offers for 37 panamax cargoes of bituminous and sub-bituminous coal in two tenders involving 12 panamax ship ...
Wednesday, 22 July 09
PRIME MINISTER APPROVAL SOUGHT TO HIKE COAL PRICES IN INDIA
PTI reported that decrying the low prices of the industrial fuel, the coal ministry will approach Dr Manmohan Singh PM of India next month for raisi ...
Tuesday, 21 July 09
BHATIA SAYS GETS ORDER FOR 800,000T COAL FROM KPCL
Reuters reported that, Indian traders Bhatia received on Tuesday a purchase order for 800,000 tonnes thermal coal at $63.00 C&F from Karnataka P ...
Tuesday, 21 July 09
NZ'S PIKE RIVER SAYS SELLS COAL AT $128 PER TONNE
Reuters reported that, New Zealand miner Pike River Coal said on Tuesday it had sold its premium hard coking coal at $128 a tonne for the curr ...
Tuesday, 21 July 09
NEWCASTLE COAL EXPORTS FALL 5%, SHIP QUEUE INCREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 5 per ...
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- SMC Global Power, Philippines
- Minerals Council of Australia
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- Commonwealth Bank - Australia
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- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
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- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
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- Coal and Oil Company - UAE
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- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
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- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
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- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
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- Tamil Nadu electricity Board
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- Therma Luzon, Inc, Philippines
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- Metalloyd Limited - United Kingdom
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- Indo Tambangraya Megah - Indonesia
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- Kideco Jaya Agung - Indonesia
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- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
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- Agrawal Coal Company - India
- Indika Energy - Indonesia
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- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
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- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
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- Bhushan Steel Limited - India
- Wilmar Investment Holdings
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- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
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- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
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- Dalmia Cement Bharat India
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