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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, 04 July 09
S. AFRICA'S RICHARDS BAY TO CAP NEW COAL VOLUMES, MININGMX SAYS
South Africa’s Richards Bay Coal Terminal is proposing restrictions on the quotas it awards to coal exporters from the so-called Phase 5 expansi ...
Saturday, 04 July 09
DALRYMPLE BAY COAL TERMINAL EXPANSION COMPLETE
BABCOCK & Brown Infrastructure has completed expansion of the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.
The terminal is now ...
Friday, 03 July 09
CHINA SHENHUA TO DOUBLE COAL CAPACITY BY 2014-PAPER
China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal report ...
Friday, 03 July 09
UKRAINE CUTS COAL PRODUCTION 9.3 PERCENT IN H1
Ukraine reduced coal production approximately 9.3%, or by 3.673 million tonnes, to 35.879 million tonnes in the first half of 2009 compared to the s ...
Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
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