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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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Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- White Energy Company Limited
- CNBM International Corporation - China
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
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