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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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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
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