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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
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