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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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Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but in ...
Wednesday, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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