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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, 23 May 09
THE SPOT SUPRAMAX CONTINUED TO BE FIRM - VISTAAR SINGAPORE
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore, said, the beginning of the week continued ...
Saturday, 23 May 09
INDONESIA'S COAL OUTPUT SLUMPS IN Q1 ON LOWER PRICES, FALLING DEMAND - THE JAKARTA GLOBE
Falling international coal prices, bad weather and other problems cut first-quarter coal output by 50 percent to 30 million tons against an initial ...
Saturday, 23 May 09
INDIAN GOVT PLANS TO BUILD FIVE COAL-BASED POWER PLANTS AT $3.5B TO END CRISIS - THE FINANCIAL EXPRESS
The government has started working on a plan to set up five coal-based power plants with combined capacity of 2,500 mega watt to solve the country' ...
Saturday, 23 May 09
INTERNATIONAL COAL VENTURES PVT LTD FORMED - INDIA SERVER
National Thermal Power Corporation Limited (NTPC Ltd), the largest thermal power generating company of India, has entered into a joint venture with ...
Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
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- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
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