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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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Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
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- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
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- New Zealand Coal & Carbon
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- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
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- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
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- Kobexindo Tractors - Indoneisa
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
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- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
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- Minerals Council of Australia
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- Georgia Ports Authority, United States
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- Coal and Oil Company - UAE
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- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
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- Indogreen Group - Indonesia
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- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
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- Bukit Makmur.PT - Indonesia
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- Australian Commodity Traders Exchange
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- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
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- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
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- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
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- Global Coal Blending Company Limited - Australia
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- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
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- PowerSource Philippines DevCo
- The University of Queensland
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- GAC Shipping (India) Pvt Ltd
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- White Energy Company Limited
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- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
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- Meralco Power Generation, Philippines
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- Tamil Nadu electricity Board
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- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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