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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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Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
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- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Australian Coal Association
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
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