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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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Tuesday, 01 November 16
IMPROVEMENT ON THE DEMAND SIDE ONLY BUT THE SUPPLY SIDE IS WORSE OFF - BIMCO
Back in May, BIMCO disclosed a projected “road to recovery” for the dry bulk shipping industry. The main message back then on what the ...
Monday, 31 October 16
INDONESIAN 5000 GAR COAL ROSE 5.56% WEEK OVER WEEK - CS COAL INDEX
COALspot.com: The price for thermal coal has recovered substantially since April 2016. The China’s new policy on its domestic coal miners, th ...
Friday, 28 October 16
STEAM COAL IMPORTS: CHINA AND INDIA'S ROLE REVERSALS - BEN TRIMMEL
While a sharp decline in European imports is a key driver of the expected fall in steam coal trade this year, China and India remain leading actors ...
Friday, 28 October 16
U.S. WEEKLY COAL OUTPUT ROSE DURING THE WEEK ENDING OCTOBER 22 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 27 October 16
73.08 PERCENT OF COAL PRODUCERS PREDICTED INDIA WILL NOT STOP COAL IMPORTS IN 2 TO 3 YEARS - POLL
COALspot released its weekly opinion poll "How likely do you think India will STOP thermal coal imports in 2-3 years?" this Monday.
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- Siam City Cement PLC, Thailand
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- Tata Chemicals Ltd - India
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- Planning Commission, India
- Indika Energy - Indonesia
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- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Deloitte Consulting - India
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- India Bulls Power Limited - India
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- Altura Mining Limited, Indonesia
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- Straits Asia Resources Limited - Singapore
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- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
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- Mjunction Services Limited - India
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- Australian Coal Association
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- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
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- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
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- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
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- Toyota Tsusho Corporation, Japan
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- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
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- Directorate Of Revenue Intelligence - India
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- Bangladesh Power Developement Board
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- Africa Commodities Group - South Africa
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- Merrill Lynch Commodities Europe
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Heidelberg Cement - Germany
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- Maharashtra Electricity Regulatory Commission - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
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- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
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- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
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- Thiess Contractors Indonesia
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- Commonwealth Bank - Australia
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- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
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- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
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- Borneo Indobara - Indonesia
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- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
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- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
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- Energy Link Ltd, New Zealand
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- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
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