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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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Tuesday, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
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- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
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