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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, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
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- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Planning Commission, India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
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