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