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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
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