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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, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Edison Trading Spa - Italy
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- Indian Oil Corporation Limited
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- Malabar Cements Ltd - India
- The University of Queensland
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- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
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- Goldman Sachs - Singapore
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- Altura Mining Limited, Indonesia
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- Australian Coal Association
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- Gujarat Sidhee Cement - India
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- Binh Thuan Hamico - Vietnam
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- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Planning Commission, India
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- Romanian Commodities Exchange
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
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- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
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- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
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- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
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- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
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- Renaissance Capital - South Africa
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- Thiess Contractors Indonesia
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- Economic Council, Georgia
- Parliament of New Zealand
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- Attock Cement Pakistan Limited
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- Africa Commodities Group - South Africa
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- Parry Sugars Refinery, India
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- Orica Australia Pty. Ltd.
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- Metalloyd Limited - United Kingdom
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- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
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- Alfred C Toepfer International GmbH - Germany
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