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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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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
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