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