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