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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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Wednesday, 21 May 14
SHIPPING: MARKET INSIGHT - GEORGE LAZARIDIS
The recent revision by the OECD of its global growth forecast has sparked a debate as to the potential outcome these new figures will have on seabo ...
Tuesday, 20 May 14
NEWCASTLE'S COAL EXPORT VOLUME UP 39.11 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 19 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Tuesday, 20 May 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with sl ...
Tuesday, 20 May 14
DRY BULK MARKET IS BOUND FOR A RECOVERY CLAIMS PARAGON SHIPPING'S HEAD MICHAEL BODOUROGLOU
The dry bulk market is bound for a recovery in the coming weeks, as the market will be better balanced, said Mr. Michael Bodouroglou, Chairman and ...
Monday, 19 May 14
INDO COAL SWAPS FOR AVERAGE Q3' 2014 DELIVERY LOST ON WEEK AND ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
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- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Planning Commission, India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
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