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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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Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
Wednesday, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...
Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...
Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
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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- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- The University of Queensland
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
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