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