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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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- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
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- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
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- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
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- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- The University of Queensland
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
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- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Ministry of Transport, Egypt
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- GMR Energy Limited - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
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- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
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- White Energy Company Limited
- ASAPP Information Group - India
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- AsiaOL BioFuels Corp., Philippines
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- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
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