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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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Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Australian Coal Association
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Parliament of New Zealand
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- PTC India Limited - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
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