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