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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, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- The University of Queensland
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
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- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
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- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
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- Trasteel International SA, Italy
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- Sical Logistics Limited - India
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- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Altura Mining Limited, Indonesia
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- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
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- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
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- Bangladesh Power Developement Board
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- Karbindo Abesyapradhi - Indoneisa
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- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
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- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
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- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
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- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
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- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
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- McConnell Dowell - Australia
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