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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 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically ...
Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
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- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- The University of Queensland
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- MS Steel International - UAE
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