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