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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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Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- The Treasury - Australian Government
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Bangladesh Power Developement Board
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
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