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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, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- Malabar Cements Ltd - India
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- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Australian Commodity Traders Exchange
- PTC India Limited - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
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- Trasteel International SA, Italy
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- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
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- Price Waterhouse Coopers - Russia
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- The University of Queensland
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- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
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- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
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- Africa Commodities Group - South Africa
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- IEA Clean Coal Centre - UK
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- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
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- Carbofer General Trading SA - India
- Eastern Energy - Thailand
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- Parliament of New Zealand
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- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
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- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
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- Mintek Dendrill Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
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- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Maheswari Brothers Coal Limited - India
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- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
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- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Economic Council, Georgia
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- New Zealand Coal & Carbon
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- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
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- Minerals Council of Australia
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- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
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- Kapuas Tunggal Persada - Indonesia
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- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
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- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
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- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
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- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
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