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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
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- London Commodity Brokers - England
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Australian Coal Association
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- MS Steel International - UAE
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
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