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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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Saturday, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
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- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
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