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