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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
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- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
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