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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, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of se ...
Tuesday, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
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- SN Aboitiz Power Inc, Philippines
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- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
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- Orica Mining Services - Indonesia
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- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
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- Trasteel International SA, Italy
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
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- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
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- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
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- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Deloitte Consulting - India
- Independent Power Producers Association of India
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- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
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- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
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- Kartika Selabumi Mining - Indonesia
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- SMC Global Power, Philippines
- London Commodity Brokers - England
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- Ministry of Mines - Canada
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- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
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- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
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- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
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- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
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- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
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- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
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- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
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- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
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- Larsen & Toubro Limited - India
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- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Australian Coal Association
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
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- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
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- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
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- Directorate General of MIneral and Coal - Indonesia
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- CNBM International Corporation - China
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- Semirara Mining Corp, Philippines
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