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