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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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Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
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- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Planning Commission, India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
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