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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, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
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- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
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