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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, 30 June 22
FINANCIAL GAINS SUPPORT COAL TRANSITION - BALTIC EXCHANGE
Support for the shift away from coal dependency continues to mount, with the International Monetary Fund (IMF) calculating that the move would gene ...
Thursday, 30 June 22
WHY ARE LNG SHIPPING STOCKS RESILIENT? - DREWRY
LNG shipping stocks are proving resilient despite uncertainties about growth in global GDP, high inflation and the ongoing geopolitical crisis caus ...
Thursday, 30 June 22
SPOT AUSTRALIAN THERMAL COAL HAS SURGED, BUT CONTRACT PRICE IS KEY - REUTERS
The spot price of Australian thermal coal is higher than that of coking coal, an unprecedented situation that highlights just how the global market ...
Thursday, 30 June 22
SHANXI PROVINCE RAISES ANNUAL COAL OUTPUT TO 1.3 BILLION TONS TO ENSURE CHINA’S ENERGY SUPPLY - GLOBAL TIMES
North China’s Shanxi Province, a major coal-producing region, recently announced a move to increase its annual coal production output by 107 ...
Thursday, 30 June 22
DIVERGENCE BETWEEN HIGH- AND LOW-GRADE THERMAL COAL PRICES IN APAC TO NARROW - FITCH RATINGS
Prices between high- and low-grade thermal coal in Asia-Pacific (APAC) have diverged since late March 2022, but Fitch Ratings expects the gap to na ...
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- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
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- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
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- Georgia Ports Authority, United States
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- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
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- Power Finance Corporation Ltd., India
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- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
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- Indian Energy Exchange, India
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- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
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- Petron Corporation, Philippines
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- GVK Power & Infra Limited - India
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- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
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- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
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- Holcim Trading Pte Ltd - Singapore
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- Bhatia International Limited - India
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- Indogreen Group - Indonesia
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- MS Steel International - UAE
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
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- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
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- Kepco SPC Power Corporation, Philippines
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- The Treasury - Australian Government
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- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
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- Chamber of Mines of South Africa
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- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
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- Central Electricity Authority - India
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- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Deloitte Consulting - India
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- Wood Mackenzie - Singapore
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- Eastern Coal Council - USA
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