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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, 26 June 14
COAL DIVESTMENT CAMPAIGNS COME WITH RISKY UNINTENDED CONSEQUENCES - WCA
Last week I presented to the Expert Group on investments in coal and petroleum companies, the body set up to advise the Norwegian Government on whe ...
Wednesday, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
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- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- Parliament of New Zealand
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
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