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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent month on month and closed at US$ 71.05 per mt a ...
Sunday, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
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- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- White Energy Company Limited
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
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