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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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Thursday, 26 June 14
COAL DIVESTMENT CAMPAIGNS COME WITH RISKY UNINTENDED CONSEQUENCES - WCA
Last week I presented to the Expert Group on investments in coal and petroleum companies, the body set up to advise the Norwegian Government on whe ...
Wednesday, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
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- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
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