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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, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
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- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
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- Bhoruka Overseas - Indonesia
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- Samtan Co., Ltd - South Korea
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- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
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- Kalimantan Lumbung Energi - Indonesia
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