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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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Monday, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM
STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.
The transa ...
Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS
BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-ma ...
Sunday, 22 March 09
SHENHUA ENERGY'S 2009 COAL PRODUCTION MAY GAIN 8% - BLOOMBERG
China Shenhua Energy Co., the nation’s biggest coal producer, may increase production of the energy fuel by about 8 percent this year, slower ...
Friday, 20 March 09
INDONESIA ORDERS TEMPORARY HALT AT BAYAN COAL MINE - REUTERS
Indonesia has ordered a coal mining unit of PT Bayan Resources to temporarily stop production for operating outside approved areas, a government off ...
Friday, 20 March 09
COKING-COAL PRICE STRUCK AT $115-$125, CITIGROUP SAYS - BLOOMBERG
BHP Billiton Ltd., the world’s largest miner, agreed with Nippon Steel Corp. to benchmark coking coal prices of $115 to $125 a metric ton, Cit ...
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- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- The University of Queensland
- Mercator Lines Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Planning Commission, India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
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