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