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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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Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
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- Ambuja Cements Ltd - India
- Australian Coal Association
- Indogreen Group - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
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- Minerals Council of Australia
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- Karbindo Abesyapradhi - Indoneisa
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- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
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- Bhushan Steel Limited - India
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- Bukit Baiduri Energy - Indonesia
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- Georgia Ports Authority, United States
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- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
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- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
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- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
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- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
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- Cement Manufacturers Association - India
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- GMR Energy Limited - India
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- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
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- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
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- PTC India Limited - India
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- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Parliament of New Zealand
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- Tamil Nadu electricity Board
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- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
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- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
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