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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
Tuesday, 28 January 14
DRY BULK SHIP OWNERS RETREAT TO OLD 'HABITS', REFUSING TO DEMOLISH OLD VESSELS, THREATENING MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
If one thing is clear as we reflect on the 2013 shipping markets, it's that ship owners took advantage of low prices, in order to acquire newer ton ...
Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen d ...
Monday, 27 January 14
13TH CLEAN COAL FORUM 2014
COALspot.com: (Press Release) - Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12 &13 2014 in Beijing, China. We a ...
Monday, 27 January 14
Q3 & Q4 API 8 CFR SOUTH CHINA COAL SWAPS CONTINUE TO REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.45 percent month on month and closed at US$ 79.05 per mt as on Frid ...
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- Petron Corporation, Philippines
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
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