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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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Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
Sunday, 18 November 18
COAL STOCKS IN A THIRD OF NTPC PLANTS CLOSE TO NIL - FINANCIAL EXPRESS
Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company&r ...
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...
Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
...
Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing ...
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- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Economic Council, Georgia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
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