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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, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
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- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
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