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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, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- Posco Energy - South Korea
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
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- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
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- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
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- Bayan Resources Tbk. - Indonesia
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