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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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Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- PTC India Limited - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Australian Coal Association
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- White Energy Company Limited
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
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