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