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