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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
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- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
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