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