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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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Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
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- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Australian Coal Association
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Planning Commission, India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Eastern Energy - Thailand
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