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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, 25 November 20
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
Friday, 20 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
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- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
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- Interocean Group of Companies - India
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- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
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- Meralco Power Generation, Philippines
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- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
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- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Romanian Commodities Exchange
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- PTC India Limited - India
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- Port Waratah Coal Services - Australia
- Minerals Council of Australia
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- Economic Council, Georgia
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- The State Trading Corporation of India Ltd
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- Singapore Mercantile Exchange
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- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Australian Coal Association
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
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- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
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- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
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- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
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- Mercator Lines Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Posco Energy - South Korea
- Wilmar Investment Holdings
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- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
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- Bangladesh Power Developement Board
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- GMR Energy Limited - India
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- Globalindo Alam Lestari - Indonesia
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- PowerSource Philippines DevCo
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- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
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- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
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- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
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- Attock Cement Pakistan Limited
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- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
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- The University of Queensland
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- Indian Energy Exchange, India
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- Parry Sugars Refinery, India
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- Vedanta Resources Plc - India
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- Heidelberg Cement - Germany
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