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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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Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
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- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- VISA Power Limited - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
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