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