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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, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Planning Commission, India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
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