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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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Wednesday, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the begi ...
Tuesday, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
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- Samtan Co., Ltd - South Korea
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
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- The University of Queensland
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
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- Planning Commission, India
- Indian Oil Corporation Limited
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- Wood Mackenzie - Singapore
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- TNB Fuel Sdn Bhd - Malaysia
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- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
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- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
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- AsiaOL BioFuels Corp., Philippines
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- Ministry of Mines - Canada
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- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
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- Global Business Power Corporation, Philippines
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- Parliament of New Zealand
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- Wilmar Investment Holdings
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- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
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- Baramulti Group, Indonesia
- CNBM International Corporation - China
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- Global Coal Blending Company Limited - Australia
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- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
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- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
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- Salva Resources Pvt Ltd - India
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- The Treasury - Australian Government
- Indonesian Coal Mining Association
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- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
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- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
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- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
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- Bharathi Cement Corporation - India
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- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
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- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
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- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
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- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- PTC India Limited - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
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- Chamber of Mines of South Africa
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