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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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Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Sree Jayajothi Cements Limited - India
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- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
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- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
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- Salva Resources Pvt Ltd - India
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- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
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- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
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- Bangladesh Power Developement Board
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- Banpu Public Company Limited - Thailand
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- Africa Commodities Group - South Africa
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- Neyveli Lignite Corporation Ltd, - India
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- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
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- Baramulti Group, Indonesia
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- Trasteel International SA, Italy
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- Price Waterhouse Coopers - Russia
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- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
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- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
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- London Commodity Brokers - England
- Coalindo Energy - Indonesia
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- Global Business Power Corporation, Philippines
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- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
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- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Sindya Power Generating Company Private Ltd
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- Mintek Dendrill Indonesia
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- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- MS Steel International - UAE
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
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- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Georgia Ports Authority, United States
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- Australian Commodity Traders Exchange
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- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
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- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
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- Cement Manufacturers Association - India
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- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
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- Star Paper Mills Limited - India
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- The Treasury - Australian Government
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