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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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Friday, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 23 May 14
DRY BULK NEWBUILDING CANCELLATIONS COULD HELP SUPPORT MARKET IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's demise over the past few months maybe has come as a surprise to many, but analysts and shipbrokers are looking forward to ...
Thursday, 22 May 14
HEAR SUCCESSFUL CASE STUDIES FROM 10 INDEPENDENT UNCONVENTIONAL GAS OPERATORS
Unconventional Gas Asia 2014 will provide a unique opportunity for Asia’s unconventional gas leaders to share their experience and expertise ...
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A ...
Thursday, 22 May 14
CAPESIZE : RATES ARE STILL UNDER PRESSURE
Handy
A quiet start into the week in Far East, some fresh Indonesian coal order in the market. For trips within S.E. Asia, Supras are trading aro ...
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- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Economic Council, Georgia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
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