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