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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, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
Tuesday, 03 November 15
EU OIL MAJORS FACE FURTHER EARNINGS DECLINE IN Q415 - FITCH RATINGS
The sharp drop in major European oil companies' third-quarter profits is likely to be extended in the fourth quarter as refining margins, which ...
Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s ...
Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.81(3.71 %) per ton month over month.
A commodity swap ...
Sunday, 01 November 15
THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
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- Kideco Jaya Agung - Indonesia
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- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
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- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
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- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
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- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
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- Chamber of Mines of South Africa
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- Indian Oil Corporation Limited
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- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
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- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
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- Bhatia International Limited - India
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- Meralco Power Generation, Philippines
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- Orica Mining Services - Indonesia
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- Aditya Birla Group - India
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- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
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- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
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- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
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- Neyveli Lignite Corporation Ltd, - India
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- SMG Consultants - Indonesia
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- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
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- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
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- Anglo American - United Kingdom
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- India Bulls Power Limited - India
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- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
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- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
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- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
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- Australian Coal Association
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- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
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- Price Waterhouse Coopers - Russia
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- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- The University of Queensland
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- Semirara Mining Corp, Philippines
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- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
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- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
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- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
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- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
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