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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, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of se ...
Tuesday, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
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- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Planning Commission, India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- PTC India Limited - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
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