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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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Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
Friday, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
Energy, shipping and steel would be the hardest-hit sectors in Asia-Pacific (APAC) in the event of a sharp slowdown in Chinese growth, says Fitch R ...
Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
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- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
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- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Australian Coal Association
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- White Energy Company Limited
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- Orica Australia Pty. Ltd.
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- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- The University of Queensland
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- Billiton Holdings Pty Ltd - Australia
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- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
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- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
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- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
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- Ministry of Mines - Canada
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- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
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- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
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- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
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- Dalmia Cement Bharat India
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- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
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- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
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- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
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- Bulk Trading Sa - Switzerland
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- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
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- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
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- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
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- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
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- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
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- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
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- New Zealand Coal & Carbon
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- Planning Commission, India
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- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
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