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