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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, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow a ...
Thursday, 28 July 16
LAST WEEK ENDING UP WITH BUSIER TONES FOR SUPRAMAXES NOW COOLING DOWN - FEARNLEYS
Supramax
Last week ending up with busier tones for Supramaxes now cooling down as with index being down to 684. Average daily earnings for Supram ...
Wednesday, 27 July 16
RATES FOR THE SMALLER SIZES OVER-PERFORMED THE MARKET LAST WEEK - INTERMODAL
The decline the BDI noted last week was somewhat expected given the fact that the market has been overall firming for almost a month no ...
Wednesday, 27 July 16
GLOBAL OIL SUPPLY IS EXPECTED TO REMAIN HIGHER THAN GLOBAL CONSUMPTION IN 2016 - CHRISTOPHER WHITTY
Global oil supply is expected to remain higher than global consumption in 2016, keeping oil prices at relatively low levels this summer compared wi ...
Tuesday, 26 July 16
NORTH P&I CLUB EXPLAINS HOW TO AVOID CLAIMS FOR SELF-COOKING SOYA BEANS
KNOWLEDGE TO ELEVATE
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they ...
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- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
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