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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
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- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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