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