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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, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
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