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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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Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
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