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