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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Economic Council, Georgia
- White Energy Company Limited
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
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