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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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Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Minerals Council of Australia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
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