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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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Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
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- Krishnapatnam Port Company Ltd. - India
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- Orica Mining Services - Indonesia
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- White Energy Company Limited
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- Thiess Contractors Indonesia
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- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
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- Alfred C Toepfer International GmbH - Germany
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- Indonesian Coal Mining Association
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- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
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- MS Steel International - UAE
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- Economic Council, Georgia
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- GAC Shipping (India) Pvt Ltd
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- Commonwealth Bank - Australia
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- Tamil Nadu electricity Board
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- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
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- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
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- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
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- Orica Australia Pty. Ltd.
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- Petron Corporation, Philippines
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- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
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- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Indika Energy - Indonesia
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- Planning Commission, India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
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- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Parliament of New Zealand
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- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
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- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
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