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