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