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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, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
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