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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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Thursday, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Australian Coal Association
- Independent Power Producers Association of India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Eastern Coal Council - USA
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
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