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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
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