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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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- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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