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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
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- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
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- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
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- PTC India Limited - India
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- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
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- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
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- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
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- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
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- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
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- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
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- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
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- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
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- VISA Power Limited - India
- Energy Link Ltd, New Zealand
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- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
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- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
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- Economic Council, Georgia
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- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
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- Electricity Authority, New Zealand
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- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
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- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
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