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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
Tuesday, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
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- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
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