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