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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, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
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- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
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- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
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- Australian Commodity Traders Exchange
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- Jindal Steel & Power Ltd - India
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- Bhoruka Overseas - Indonesia
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- Parliament of New Zealand
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- Chamber of Mines of South Africa
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- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
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- Posco Energy - South Korea
- Mercuria Energy - Indonesia
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- Coal and Oil Company - UAE
- White Energy Company Limited
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- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
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- Orica Mining Services - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
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- Binh Thuan Hamico - Vietnam
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- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
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- Marubeni Corporation - India
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- Ministry of Finance - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
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- Ministry of Transport, Egypt
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- Bukit Baiduri Energy - Indonesia
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- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
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- Independent Power Producers Association of India
- PTC India Limited - India
- Medco Energi Mining Internasional
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- SMG Consultants - Indonesia
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- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
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- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
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- India Bulls Power Limited - India
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- Jaiprakash Power Ventures ltd
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- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
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- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
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