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