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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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Tuesday, 21 July 09
FIRST QUARTER COAL MARKET AND EURACOAL'S OUTLOOK FOR THE FUTURE
Euracoal reports that for the first time in many years, the world market for hard coal fell by some 8 % during the first quarter 2009. This latest E ...
Monday, 20 July 09
CHINAS COAL DEMAND, OUTPUT TO PICK UP IN H2 - GROUP 2
Financial24 reported that, China's coal demand is expected to gradually pick up in the second half of the year, and coal output will likely grow fa ...
Monday, 20 July 09
ADANI POWER LAUNCHES IPO, AIMS HIGHER CAPACITY
Economic Times reported that, Adani Power Ltd, a power project development company, promoted by Adani Enterprise went for an initial public offering ...
Monday, 20 July 09
BANPU'S SECOND-HALF PROFIT MAY DROP ON COAL PRICES
Bloomberg Reported that, Banpu Pcl, Thailand’s biggest coal producer, expects profit to decline in the second half from the first six months a ...
Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
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- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
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- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
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- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
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- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
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- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- The University of Queensland
- Mercuria Energy - Indonesia
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- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
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