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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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Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
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- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Australian Coal Association
- Marubeni Corporation - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
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