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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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Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
Tuesday, 27 March 18
SHIPPING MARKET ANALYSIS - GERRY LATHROP
With the almost complete phase out of Tier II new-building slots on our door step, along with the plethora of emissions related articles seemingly ...
Friday, 23 March 18
RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA TO GLENCORE FOR $1.7 BILLION
Press Release: Rio Tinto has entered into a binding agreement with Glencore for the sale of its entire interests in the Hail Creek coal mine and th ...
Wednesday, 21 March 18
CHINA'S RAW COAL OUTPUT UP IN 2017, FIRST GROWTH SINCE 2014 - XINHUA
China’s raw coal output rose in 2017 due to rebounding demand and high-quality capacity, according to the National Bureau of Statistics (NBS) ...
Wednesday, 21 March 18
MARKET INSIGHT - CHRISTOPHER T. WHITTY
President’s Trump administration proposed tariffs on steel and aluminum imports in an attempt to target China and Europe among others. Earlie ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
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