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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, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
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- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
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