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