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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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Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
Wednesday, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the marke ...
Wednesday, 04 December 19
INDONESIA REVIEWING RULES MANDATING COAL SALES TO LOCAL BUYERS: OFFICIAL - REUTERS
Indonesia is reviewing rules that require coal miners to sell a portion of their coal to local buyers, a government official said on Monday, as sup ...
Tuesday, 03 December 19
STABILITY AND COMPATIBILITY OF VERY LOW SULPHUR FUEL OILS - GARD
In order to meet increasing restrictions on the sulphur content in marine fuel as defined by MARPOL Annex VI Regulation 14.1.3, the characteristics ...
Monday, 02 December 19
COAL PRODUCTION IN INDIA UP BY 164.58 MT IN 5 YEARS - BUSINESS LINE
Raw coal production in the country has increased from 567.77 million tons (MT) in 2013-14 to 730.35 MT in 2018-19, Union Coal and Parliamentary Aff ...
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- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Economic Council, Georgia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- PTC India Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
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