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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, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
Tuesday, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
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- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
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- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
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- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
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- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
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- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
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- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
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- PTC India Limited - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
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- CIMB Investment Bank - Malaysia
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- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- Planning Commission, India
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- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
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- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
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- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
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- VISA Power Limited - India
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- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Australian Coal Association
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- Indo Tambangraya Megah - Indonesia
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- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
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- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
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- Chamber of Mines of South Africa
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- Directorate General of MIneral and Coal - Indonesia
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- India Bulls Power Limited - India
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- Independent Power Producers Association of India
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- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
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- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
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- Interocean Group of Companies - India
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- CNBM International Corporation - China
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- Goldman Sachs - Singapore
- Indian Energy Exchange, India
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- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
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- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
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- Economic Council, Georgia
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- Bukit Baiduri Energy - Indonesia
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- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
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- Indonesian Coal Mining Association
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