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