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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
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- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- The University of Queensland
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
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