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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, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- Cigading International Bulk Terminal - Indonesia
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- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
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- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
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- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
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- Planning Commission, India
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- Thiess Contractors Indonesia
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- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
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- PTC India Limited - India
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- Eastern Coal Council - USA
- SMC Global Power, Philippines
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- The University of Queensland
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- Parliament of New Zealand
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- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
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- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
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- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
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- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
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- Baramulti Group, Indonesia
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- Goldman Sachs - Singapore
- Aditya Birla Group - India
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- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
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- The Treasury - Australian Government
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- Minerals Council of Australia
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- Tamil Nadu electricity Board
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- Electricity Authority, New Zealand
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- Ministry of Finance - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
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- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
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