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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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Monday, 23 September 19
CHINA RECORDS SLOWER GROWTH IN COAL PRODUCTION - XINHUA
The growth of China’s raw coal production slowed down in August, data from the National Bureau of Statistics (NBS) showed.
Aro ...
Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
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- Bhatia International Limited - India
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- Parliament of New Zealand
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- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
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- Economic Council, Georgia
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- New Zealand Coal & Carbon
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- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
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- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
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- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
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- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- The University of Queensland
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- Minerals Council of Australia
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- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
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- Ministry of Finance - Indonesia
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- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
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- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
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- Deloitte Consulting - India
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- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
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- Georgia Ports Authority, United States
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- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
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- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
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- Energy Development Corp, Philippines
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- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
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- Singapore Mercantile Exchange
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- Planning Commission, India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
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- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Directorate Of Revenue Intelligence - India
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- Chamber of Mines of South Africa
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- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
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- Wood Mackenzie - Singapore
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- Therma Luzon, Inc, Philippines
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- Indian Oil Corporation Limited
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- Alfred C Toepfer International GmbH - Germany
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- White Energy Company Limited
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