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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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Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
Wednesday, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...
Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...
Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
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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- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
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