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