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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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Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
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- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
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