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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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- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
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