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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, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
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- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- The University of Queensland
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
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