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