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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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- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- The University of Queensland
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
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