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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, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Planning Commission, India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
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