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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, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
Thursday, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hope ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
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- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
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