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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 18 July 13
DRY BULK MARKETS RETAINS RECENT GAINS, MOVES SIDEWAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on moving sideways this week, as evidenced by the latest trends of the industry's benchmark, the Baltic Dry Index (BDI ...
Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
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- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
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