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