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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, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
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