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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, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
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- Parliament of New Zealand
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
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