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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
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