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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Wednesday, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...
Tuesday, 12 May 15
FOB INDONESIA COAL SWAP; DECLINED M-O-M AND W-O-W
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 0 ...
Tuesday, 12 May 15
FOB RICHARDS BAY COAL SWAPS: LOST W-O-W; GAIN M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and decreased week over week.
The Q3 swap h ...
Monday, 11 May 15
DRY BULK CARRIER ORDERS CRASH TO A TWENTY YEAR LOW - CLARKSONS
In the last four months dry bulk orders have fallen to 0.4m dwt per month, the lowest level since the 1990s. This is a massive 98% reduction from t ...
Monday, 11 May 15
HBA PRICE DIPS FURTHER; LOWEST RECORDED SINCE JANUARY 2009
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 61.08 per MT in May ...
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- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- Minerals Council of Australia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- India Bulls Power Limited - India
- PTC India Limited - India
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