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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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- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
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