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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
Monday, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
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- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Australian Coal Association
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
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