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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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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- White Energy Company Limited
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Anglo American - United Kingdom
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
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