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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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Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Gujarat Mineral Development Corp Ltd - India
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- Petron Corporation, Philippines
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- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
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- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
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- MS Steel International - UAE
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- Makarim & Taira - Indonesia
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- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
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- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Planning Commission, India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
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- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
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- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
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- White Energy Company Limited
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- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
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- Mercuria Energy - Indonesia
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- PTC India Limited - India
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- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
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- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
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- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
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- Sojitz Corporation - Japan
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- Bangladesh Power Developement Board
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- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
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- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
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- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
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- Siam City Cement - Thailand
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
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- CNBM International Corporation - China
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