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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, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
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- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
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- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
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- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
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- Australian Coal Association
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- Africa Commodities Group - South Africa
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- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
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- ICICI Bank Limited - India
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- IEA Clean Coal Centre - UK
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- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
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- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
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- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
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- London Commodity Brokers - England
- Deloitte Consulting - India
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- Singapore Mercantile Exchange
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- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
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- Renaissance Capital - South Africa
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- Minerals Council of Australia
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- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
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- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
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- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
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- Electricity Authority, New Zealand
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- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
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- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
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- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
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- Indian Oil Corporation Limited
- ASAPP Information Group - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
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- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
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- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
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