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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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Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
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- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Economic Council, Georgia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Minerals Council of Australia
- VISA Power Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
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