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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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Thursday, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Australian Coal Association
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
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