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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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Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
Friday, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory l ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
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- Baramulti Group, Indonesia
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- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
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- Trasteel International SA, Italy
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- Attock Cement Pakistan Limited
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- Commonwealth Bank - Australia
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- Meenaskhi Energy Private Limited - India
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- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
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- Planning Commission, India
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- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
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- Ministry of Mines - Canada
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- Directorate Of Revenue Intelligence - India
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- Larsen & Toubro Limited - India
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- Gujarat Mineral Development Corp Ltd - India
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- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
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- Mjunction Services Limited - India
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- IEA Clean Coal Centre - UK
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- Sical Logistics Limited - India
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- Bhoruka Overseas - Indonesia
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- SMC Global Power, Philippines
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- Parliament of New Zealand
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- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
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- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
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- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
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- Meralco Power Generation, Philippines
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- Indonesian Coal Mining Association
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- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
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- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
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- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
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- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
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- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
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- Global Coal Blending Company Limited - Australia
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- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
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- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
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