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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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Thursday, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
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