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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, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
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- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
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