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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, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- Ambuja Cements Ltd - India
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- Tata Chemicals Ltd - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
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- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Minerals Council of Australia
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- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
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- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
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- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
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- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
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- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
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- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Renaissance Capital - South Africa
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