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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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Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
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