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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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- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- White Energy Company Limited
- CNBM International Corporation - China
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- PTC India Limited - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
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