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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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Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
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- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
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