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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, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
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- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Australian Coal Association
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- VISA Power Limited - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
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