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