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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, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- White Energy Company Limited
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- The University of Queensland
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
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