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