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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, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- The University of Queensland
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Planning Commission, India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
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