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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, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- PTC India Limited - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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