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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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Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Australian Coal Association
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
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