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