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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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Monday, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
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- The University of Queensland
- Energy Development Corp, Philippines
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- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
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- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
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- Parliament of New Zealand
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- Savvy Resources Ltd - HongKong
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- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
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- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
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- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
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- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
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- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
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- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
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- Latin American Coal - Colombia
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- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
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- Australian Coal Association
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- Jindal Steel & Power Ltd - India
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- Bangladesh Power Developement Board
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- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
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- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
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- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
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- Thiess Contractors Indonesia
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- Interocean Group of Companies - India
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- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
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- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
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- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
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- London Commodity Brokers - England
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- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
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