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