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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, 14 March 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
Interest in second hand tonnage remains firm with buyers in the dry bulk sector looking to benefit from rising freight rates that are eventually ex ...
Monday, 12 March 18
DRY BULK MARKET: CAPESIZE MARKET FINDS ITS FOOTING - BALTIC BRIEFING
Capesize
Some relief for owners as the week closed out with the market finding a floor in the East. Rates on the key West Australia/China run loo ...
Monday, 12 March 18
COAL OUTPUT FROM PRIVATE MINERS UNLIKELY TO RISE IN MEDIUM TERM: ICRA
Coal output levels from private commercial miners are unlikely to go up considerably in the medium to short term, given the issues related to land ...
Saturday, 10 March 18
ENHANCED PRODUCTION BY COAL INDIA HELPS DECLINE IN COAL IMPORTS
As per the current import policy, coal is kept under Open General License (OGL) and consumers are free to import coal from the source of their choi ...
Saturday, 10 March 18
THE 'RENOS' - COURT OF APPEAL CLARIFIES CTL CALCULATION AND RIGHT OF ABANDONMENT - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the matter of the “RENOS”, Mr Justice Knowles addressed a number of issues, at first instance, regarding t ...
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- Goldman Sachs - Singapore
- Economic Council, Georgia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
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