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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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Saturday, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
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- Indika Energy - Indonesia
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- Indian Energy Exchange, India
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- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
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- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
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- Electricity Generating Authority of Thailand
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- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
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- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
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- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
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- Parliament of New Zealand
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- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Minerals Council of Australia
- New Zealand Coal & Carbon
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- The Treasury - Australian Government
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- Formosa Plastics Group - Taiwan
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- London Commodity Brokers - England
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- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
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- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
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- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- The University of Queensland
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- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
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- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Australian Coal Association
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- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
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- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
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- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
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- Global Business Power Corporation, Philippines
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- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
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- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
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- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
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- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
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- Videocon Industries ltd - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
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- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
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