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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, 04 August 15
SHIPPING CYCLES - A CHESS GAME YOU DON'T WANT TO LOSE - CLARKSONS
Ingmar Bergman’s classic movie The Seventh Seal is about a knight who, during the Black Death, challenges Death to a chess match, in the hope ...
Monday, 03 August 15
NEWCASTLE COAL SWAPS DECLINE FURTHER THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.92 per MT (-4.22%) month over month to US$ 43.58 per mt. The swap ...
Monday, 03 August 15
CFR SOUTH CHINA COAL SWAPS SLIDE THIS WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.64 (3.14%) per MT month over month.
A commodity swap ...
Sunday, 02 August 15
CAPESIZE RATES PUSH BDI UPWARD
COALspot.com: The freight market was buoyant this week as BDI rose 4.14 pct to 1131 points. The cape index was also increased 16.50 pct 2209 points ...
Saturday, 01 August 15
DRY BULK MARKET KEEPS ITS MOMENTUM, AS OUTLOOK IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although conditions remain more than challenging, especially from an economic point of view (aka China’s stock worries), the dry bulk market ...
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- Central Electricity Authority - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- The University of Queensland
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
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