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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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- Makarim & Taira - Indonesia
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- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
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- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
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- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
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- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
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- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
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- Karbindo Abesyapradhi - Indoneisa
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- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
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- Wood Mackenzie - Singapore
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- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
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- Alfred C Toepfer International GmbH - Germany
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
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- Sinarmas Energy and Mining - Indonesia
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- Sojitz Corporation - Japan
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- IEA Clean Coal Centre - UK
- Economic Council, Georgia
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- Neyveli Lignite Corporation Ltd, - India
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- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
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- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
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- Salva Resources Pvt Ltd - India
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- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
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- Videocon Industries ltd - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
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- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
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- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
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- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Cement Manufacturers Association - India
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- VISA Power Limited - India
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- PNOC Exploration Corporation - Philippines
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- Planning Commission, India
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- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
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- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
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- Ministry of Finance - Indonesia
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- Renaissance Capital - South Africa
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- Chamber of Mines of South Africa
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