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