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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
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- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
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- Global Business Power Corporation, Philippines
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- PTC India Limited - India
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- Ceylon Electricity Board - Sri Lanka
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- Borneo Indobara - Indonesia
- Marubeni Corporation - India
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- Videocon Industries ltd - India
- Indonesian Coal Mining Association
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- Trasteel International SA, Italy
- Deloitte Consulting - India
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- Planning Commission, India
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- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
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- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
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- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
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- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
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- Coal and Oil Company - UAE
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- Kobexindo Tractors - Indoneisa
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- SMC Global Power, Philippines
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- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
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- Ministry of Finance - Indonesia
- Australian Coal Association
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- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
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- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
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- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
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- Agrawal Coal Company - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
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- Bhatia International Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
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- Manunggal Multi Energi - Indonesia
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- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
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