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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, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
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- Price Waterhouse Coopers - Russia
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- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
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- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
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- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
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- India Bulls Power Limited - India
- Eastern Coal Council - USA
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- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
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- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Latin American Coal - Colombia
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- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
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- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
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- Simpson Spence & Young - Indonesia
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- Economic Council, Georgia
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- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
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- IEA Clean Coal Centre - UK
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- Attock Cement Pakistan Limited
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- Central Electricity Authority - India
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- Uttam Galva Steels Limited - India
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- New Zealand Coal & Carbon
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- Tata Chemicals Ltd - India
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- Coalindo Energy - Indonesia
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- Meralco Power Generation, Philippines
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- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
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- The University of Queensland
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- Thiess Contractors Indonesia
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- International Coal Ventures Pvt Ltd - India
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- Port Waratah Coal Services - Australia
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- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
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- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
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- Alfred C Toepfer International GmbH - Germany
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- Planning Commission, India
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- PTC India Limited - India
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- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
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