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