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