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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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Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
Friday, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
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- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
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- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Posco Energy - South Korea
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- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Minerals Council of Australia
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- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
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- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
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- The University of Queensland
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- Mjunction Services Limited - India
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- Planning Commission, India
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- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
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- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
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- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
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- London Commodity Brokers - England
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- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
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- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
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- Iligan Light & Power Inc, Philippines
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- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Australian Coal Association
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- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
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- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
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- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
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- Sarangani Energy Corporation, Philippines
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- The State Trading Corporation of India Ltd
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- Pipit Mutiara Jaya. PT, Indonesia
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- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
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- Sical Logistics Limited - India
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- Chamber of Mines of South Africa
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