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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, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
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