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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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- Bayan Resources Tbk. - Indonesia
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- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
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- Baramulti Group, Indonesia
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- Merrill Lynch Commodities Europe
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- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- The Treasury - Australian Government
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- Edison Trading Spa - Italy
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- Georgia Ports Authority, United States
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- Wilmar Investment Holdings
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- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
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- Pipit Mutiara Jaya. PT, Indonesia
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- Economic Council, Georgia
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- Coal and Oil Company - UAE
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- Power Finance Corporation Ltd., India
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- Indian Oil Corporation Limited
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
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- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
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- SMG Consultants - Indonesia
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- Ministry of Finance - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
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- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- The University of Queensland
- New Zealand Coal & Carbon
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- VISA Power Limited - India
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- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
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- Independent Power Producers Association of India
- Bhatia International Limited - India
- Parliament of New Zealand
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- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
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- Binh Thuan Hamico - Vietnam
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- Energy Link Ltd, New Zealand
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