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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 18 July 13
DRY BULK MARKETS RETAINS RECENT GAINS, MOVES SIDEWAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on moving sideways this week, as evidenced by the latest trends of the industry's benchmark, the Baltic Dry Index (BDI ...
Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
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- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
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