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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, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Kobexindo Tractors - Indoneisa
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- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
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- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- Economic Council, Georgia
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- The Treasury - Australian Government
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- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
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- Global Business Power Corporation, Philippines
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- Singapore Mercantile Exchange
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- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
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- Samtan Co., Ltd - South Korea
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- Electricity Authority, New Zealand
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- Trasteel International SA, Italy
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- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
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- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
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- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
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- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
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- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
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- Planning Commission, India
- Parliament of New Zealand
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- Jorong Barutama Greston.PT - Indonesia
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- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
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- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
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- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
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- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
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- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
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- Bank of Tokyo Mitsubishi UFJ Ltd
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