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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, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- The University of Queensland
- Parliament of New Zealand
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Australian Coal Association
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
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