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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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Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
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- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
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- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
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- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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- London Commodity Brokers - England
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- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
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- Planning Commission, India
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- Indian Oil Corporation Limited
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- Oldendorff Carriers - Singapore
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- Samtan Co., Ltd - South Korea
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- Power Finance Corporation Ltd., India
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- Orica Australia Pty. Ltd.
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- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
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- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
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- SMG Consultants - Indonesia
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- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
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- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
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- Binh Thuan Hamico - Vietnam
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- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
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- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
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- Dalmia Cement Bharat India
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- Energy Development Corp, Philippines
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- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
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- Merrill Lynch Commodities Europe
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- Petrochimia International Co. Ltd.- Taiwan
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- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
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- The Treasury - Australian Government
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