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