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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Friday, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
Thursday, 13 August 15
THE RATES FOR CAPES KEPT RALLYING LAST WEEK - INTERMODAL
COALspot.com: Strong Capesize performance kept supporting the Dry Bulk market last week, which noted another positive weekly closing, while rates f ...
Thursday, 13 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE FALLING
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Wednesday, 12 August 15
DRY BULK MARKET: WITHOUT A DOUBT REACHED HEALTHIER LEVEL
A few weeks before the end of the summer season, the BDI is hovering around 1,200 points, providing some much needed optimism to all Dry Bulk marke ...
Wednesday, 12 August 15
REGULATION CURBS POWER OF LOCAL AUTHORITIES IN MINING SECTOR IN INDONESIA - FLORENCE G. SANTOSO
The Indonesian Government appears to be getting serious about stripping Regents of the authority to issue mining licenses. The Government took the ...
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- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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