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