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