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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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Tuesday, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
Monday, 27 April 09
INDONESIA S.KALIMANTAN GETS COAL TRUCKS OFF PUBLIC ROADS - REUTERS
A local government in one of Indonesia's top coal-producing areas has banned coal and palm oil firms from using public roads because of the damage ...
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- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- The University of Queensland
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Planning Commission, India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
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