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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
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- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
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