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