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