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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, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
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- Interocean Group of Companies - India
- Renaissance Capital - South Africa
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- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
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- Cigading International Bulk Terminal - Indonesia
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- Standard Chartered Bank - UAE
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- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
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- Anglo American - United Kingdom
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- Merrill Lynch Commodities Europe
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- Australian Coal Association
- Energy Development Corp, Philippines
- Marubeni Corporation - India
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- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
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- Pendopo Energi Batubara - Indonesia
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- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
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- Ministry of Mines - Canada
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
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- Planning Commission, India
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- Power Finance Corporation Ltd., India
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- AsiaOL BioFuels Corp., Philippines
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- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
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- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
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- Eastern Coal Council - USA
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- Port Waratah Coal Services - Australia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
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- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
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