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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 11 June 15
IS COAL INDUSTRY GOING TO HIT A BRICK WALL?
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.59 per MT fo ...
Wednesday, 10 June 15
TANKER MARKET INSIGHT - STELIOS KOLLINTZAS
As we go through the end of the 2nd quarter of the year it is evident that the tanker shipping markets have been rewarding and definitely been show ...
Wednesday, 10 June 15
WORLD COAL MARKET HEADING TO NEW EQUILIBRIUM: MINISTER - JAKARTA POST
Energy and Mineral Resources Minister Sudirman Said has said the world’s coal market is heading towards a new balance, which will make Indone ...
Wednesday, 10 June 15
FOB INDONESIA COAL SWAP ROSE W-O-W AND M-O-M
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and week over week, this past week.
The Q3 swap was climbed by $ ...
Tuesday, 09 June 15
GLOBALCOAL IMPLEMENTS VOLUMETRIC SIZE LIMITS IN RICHARDS BAY MARKET
COALspot.com: globalCOAL today announced that following recent market consultation, it will limit bids, offers and trades in the fixed price Phys R ...
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- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
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- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
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- The State Trading Corporation of India Ltd
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- Karaikal Port Pvt Ltd - India
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- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
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- Australian Coal Association
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
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- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
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- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
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- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
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- Cement Manufacturers Association - India
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- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
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- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
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- Wilmar Investment Holdings
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- Africa Commodities Group - South Africa
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- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
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- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
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- Electricity Authority, New Zealand
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
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