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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
Monday, 30 June 14
INDO - INDIA FREIGHT RATES CONTINUE TO WEAK
COALspot.com: The latest dry Index shows that average all-in spot freight declined, the Panamax and Supramax slipping by 9.11 percent and 4% respec ...
Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ...
Thursday, 26 June 14
PANAMAX : A PACIFIC ROUND PAYS AROUND US$ 3K DAILY - FEARNLEYS AS
Handy
In the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to US$ 5,500 ...
Thursday, 26 June 14
KOMIPO INVITES BIDS FOR TOTAL 750K MT OF BITUMINOUS COAL FOR 3CY
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) has issued a new tender for supply of total 250,000 MT of bituminous co ...
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- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
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