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