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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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Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
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- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Economic Council, Georgia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Planning Commission, India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
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