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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Planning Commission, India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
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