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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, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
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