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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
Sunday, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
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- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
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