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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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Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
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