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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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Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
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- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
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