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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, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
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- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- Australian Coal Association
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
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