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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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Wednesday, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Tuesday, 08 September 09
INDIA MAY HAVE A JOINT WORKING GROUP FOR COAL WITH INDONESIA: SRIPRAKASH JAISWAL - PRESS RELEASE
Press Information Bureau of India reported in its web site that, The Coal Ministry has, in principle, agreed to set up a Joint Working Group for coa ...
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- Wilmar Investment Holdings
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
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- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
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- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
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- Simpson Spence & Young - Indonesia
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- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
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- Siam City Cement PLC, Thailand
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- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
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- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
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- Latin American Coal - Colombia
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- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
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- White Energy Company Limited
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
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- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
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- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
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- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
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- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
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- Samtan Co., Ltd - South Korea
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- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
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- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
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- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
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- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
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- Minerals Council of Australia
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- Georgia Ports Authority, United States
- Romanian Commodities Exchange
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- Bangladesh Power Developement Board
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- London Commodity Brokers - England
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- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
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- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
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- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
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- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
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- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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