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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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Monday, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- The University of Queensland
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Australian Coal Association
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
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