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