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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
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