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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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- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- PTC India Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
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