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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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Thursday, 08 May 14
'TRIAL BY MEDIA, TRIAL BY LAW' - A REPORT FROM TRACK 1 OF BIMCO'S ANNUAL CONFERENCE DUBAI 2014
KNOWLEDGE TO ELEVATE
Aiming to bring a very different type of event into their annual conference, BIMCO presented ‘Double Jeopardy &n ...
Thursday, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
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- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
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