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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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Sunday, 24 January 16
PANAMAX MARKET WEAKENS ACROSS THE BOARD
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell ninetee ...
Friday, 22 January 16
WEEKLY US COAL PRODUCTION ESTIMATES ALMOST FLAT
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.3 million shor ...
Friday, 22 January 16
COAL PRICES TO REMAIN UNDER PRESSURE THIS YEAR
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week. The falling trend of prices for coal was continuing ...
Friday, 22 January 16
Q3' 16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 40.80; DECLINE $ 2.80 M-O-M
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and decline week over week.
The Q1’ 2016 FOB Richards B ...
Wednesday, 20 January 16
Q3'16 FOB NEWCASTLE COAL SWAP CLOSED $ 2.40 LESSER THAN Q1'16 CLOSING PRICE OF $ 38.10
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $0.77 per ton (2.06%) this past week compared to the sam ...
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- Mjunction Services Limited - India
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- Planning Commission, India
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- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
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- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Toyota Tsusho Corporation, Japan
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- Electricity Generating Authority of Thailand
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- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
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- Thai Mozambique Logistica
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- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
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- The University of Queensland
- LBH Netherlands Bv - Netherlands
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- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
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- Interocean Group of Companies - India
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- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
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- Independent Power Producers Association of India
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- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
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- Merrill Lynch Commodities Europe
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- New Zealand Coal & Carbon
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- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
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- Coalindo Energy - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
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- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
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- Energy Link Ltd, New Zealand
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- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
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- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
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- Australian Commodity Traders Exchange
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- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- PTC India Limited - India
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- Economic Council, Georgia
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- Posco Energy - South Korea
- Trasteel International SA, Italy
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- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
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