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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, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
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- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
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- ASAPP Information Group - India
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- Dalmia Cement Bharat India
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- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
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- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
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- Merrill Lynch Commodities Europe
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- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
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- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
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- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
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- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
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- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- The University of Queensland
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
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- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
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- VISA Power Limited - India
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- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
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- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
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- Global Coal Blending Company Limited - Australia
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