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