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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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Saturday, 11 July 09
THE IMPORT OF STEAM COAL FROM INDONESIA & S/A TO INDIA WILL CONTINUE TO INCREASE - VISTAAR
COALspot.com ( Singapore): Vistaar Shipping, an experienced ship operator in Singapore said, The market continued to be soft this with doubts a ...
Friday, 10 July 09
DMO AND ICPR AIMED AT SECURING DOMESTIC COAL SUPPLY
COALspot.com (Indonesia): According to website of DGCMG, the implementation of coal Domestic Market Obligation (DMO) and the Indonesian Coal P ...
Friday, 10 July 09
INDONESIAN MINING LAW IN TRANSITION
Further to the enactment of Law No. 4 of 2009 on Mineral and Coal Mining (“Law 4/2009”), the enactment of various implementing regulatio ...
Thursday, 09 July 09
COAL EXPORTS TO CHINA MAY FALL AS PRICES, SHIPPING RATES RISE
CHINA'S appetite for Australian coal may fall in July and August from earlier highs, due to a recent recovery in regional prices and higher interna ...
Thursday, 09 July 09
GARDA LISTS SHARES IN LOCAL BOURSE
Local coal company PT Garda Tujuh Buana officially listed its shares in the Indonesia Stock Exchange (IDX).
The listing followed the company's p ...
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- Port Waratah Coal Services - Australia
- The University of Queensland
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- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
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- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
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- Economic Council, Georgia
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- Global Business Power Corporation, Philippines
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- Commonwealth Bank - Australia
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- Renaissance Capital - South Africa
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- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
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- Australian Coal Association
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- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
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- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
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- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Planning Commission, India
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- South Luzon Thermal Energy Corporation
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- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
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- Medco Energi Mining Internasional
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- Maharashtra Electricity Regulatory Commission - India
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- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Minerals Council of Australia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
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- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
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- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
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- Independent Power Producers Association of India
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- GAC Shipping (India) Pvt Ltd
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- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
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- Barasentosa Lestari - Indonesia
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- Bulk Trading Sa - Switzerland
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- Bangladesh Power Developement Board
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- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
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- SMG Consultants - Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- Grasim Industreis Ltd - India
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