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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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Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
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- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- VISA Power Limited - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
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