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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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Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Planning Commission, India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Posco Energy - South Korea
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Australian Coal Association
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
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