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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
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- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Sical Logistics Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
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