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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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Tuesday, 04 August 15
SHIPPING CYCLES - A CHESS GAME YOU DON'T WANT TO LOSE - CLARKSONS
Ingmar Bergman’s classic movie The Seventh Seal is about a knight who, during the Black Death, challenges Death to a chess match, in the hope ...
Monday, 03 August 15
NEWCASTLE COAL SWAPS DECLINE FURTHER THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.92 per MT (-4.22%) month over month to US$ 43.58 per mt. The swap ...
Monday, 03 August 15
CFR SOUTH CHINA COAL SWAPS SLIDE THIS WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.64 (3.14%) per MT month over month.
A commodity swap ...
Sunday, 02 August 15
CAPESIZE RATES PUSH BDI UPWARD
COALspot.com: The freight market was buoyant this week as BDI rose 4.14 pct to 1131 points. The cape index was also increased 16.50 pct 2209 points ...
Saturday, 01 August 15
DRY BULK MARKET KEEPS ITS MOMENTUM, AS OUTLOOK IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although conditions remain more than challenging, especially from an economic point of view (aka China’s stock worries), the dry bulk market ...
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- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
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