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