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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, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Latin American Coal - Colombia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
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