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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Wednesday, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
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- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
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