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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, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
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- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Petron Corporation, Philippines
- Deloitte Consulting - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Planning Commission, India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
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