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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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- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
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