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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, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
Monday, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
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- Kapuas Tunggal Persada - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
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- Petron Corporation, Philippines
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- Energy Link Ltd, New Zealand
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- White Energy Company Limited
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- Renaissance Capital - South Africa
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
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- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
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- Ministry of Finance - Indonesia
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- Parliament of New Zealand
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- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
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- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
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- Planning Commission, India
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- Coal and Oil Company - UAE
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- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
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- Metalloyd Limited - United Kingdom
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- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
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- Altura Mining Limited, Indonesia
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- Medco Energi Mining Internasional
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- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Ministry of Mines - Canada
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- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
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- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
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- Global Business Power Corporation, Philippines
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- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
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- Deloitte Consulting - India
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- Indonesian Coal Mining Association
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- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
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- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
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- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
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- Australian Coal Association
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
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- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
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