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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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- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- The University of Queensland
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
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