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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, 27 November 15
INDONESIA COAL SWAPS: WEEK ENDING 20 NOVEMBER CLOSED HIGHER COMPARED TO THE PREVIOUS WEEK
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and up on week over week. Coal prices seen slight improvements thi ...
Friday, 27 November 15
FOB RICHARDS BAY COAL SWAPS UP FROM LAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 26 November 15
ITALY'S STEAM COAL IMPORTS EXPECTED TO REACH 16 MILLION TONS AND COKING COAL IMPORTS TO AMOUNT TO 4 MILLION TONS - ASSOCARBONI
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
- “Coal has made huge steps towards environmental sustainability, making itself t ...
Thursday, 26 November 15
DRY BULK MARKET WILL REBOUND EVENTUALLY, BUT THINGS WILL BECOME EVEN WORSE BEFORE THEY IMPROVE SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market’s benchmark, the Baltic Dry Index (BDI) reached an all-time late last week and has failed to rebound significantly eve ...
Thursday, 26 November 15
Q3'16 FOB NEWCASTLE COAL SWAP FALLS 27.5% SINCE 20 FEB 2015
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
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- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
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- International Coal Ventures Pvt Ltd - India
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- Australian Coal Association
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- Economic Council, Georgia
- Energy Development Corp, Philippines
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- Parliament of New Zealand
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- Electricity Authority, New Zealand
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- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
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- Bayan Resources Tbk. - Indonesia
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- Singapore Mercantile Exchange
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- Global Green Power PLC Corporation, Philippines
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- Latin American Coal - Colombia
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- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
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- Coal and Oil Company - UAE
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- Siam City Cement - Thailand
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- Anglo American - United Kingdom
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- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
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- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
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- Eastern Energy - Thailand
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- Electricity Generating Authority of Thailand
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- The State Trading Corporation of India Ltd
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- Therma Luzon, Inc, Philippines
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- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
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- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
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- White Energy Company Limited
- The University of Queensland
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
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- IEA Clean Coal Centre - UK
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- GAC Shipping (India) Pvt Ltd
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- Karbindo Abesyapradhi - Indoneisa
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- Ministry of Transport, Egypt
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- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
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- Sical Logistics Limited - India
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