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