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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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Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but in ...
Wednesday, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
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