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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, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. ...
Wednesday, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high- ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
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- Electricity Generating Authority of Thailand
- The University of Queensland
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- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
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- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Planning Commission, India
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- India Bulls Power Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
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- Bharathi Cement Corporation - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
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- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Mjunction Services Limited - India
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- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
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- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
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- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
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- Neyveli Lignite Corporation Ltd, - India
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- Eastern Energy - Thailand
- Mercator Lines Limited - India
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- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
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- Global Business Power Corporation, Philippines
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- Thiess Contractors Indonesia
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- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Economic Council, Georgia
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- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
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- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
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- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
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- Xindia Steels Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
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- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
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- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
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- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
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- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- White Energy Company Limited
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- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
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- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
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