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