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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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Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
Friday, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
The Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead b ...
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- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
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