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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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Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
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- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
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