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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, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
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- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Planning Commission, India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Economic Council, Georgia
- MS Steel International - UAE
- VISA Power Limited - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
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