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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, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Bhatia International Limited - India
- VISA Power Limited - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
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