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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
Tuesday, 16 December 14
THIS PRICE IS A STEAL - EVA TZIMA
COALspot.com: Despite concerns that the slowdown of the Chinese economy would affect imports of iron ore, it seems that this has not been the case ...
Tuesday, 16 December 14
FOB RICHARDS BAY COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT US$ 65.60 PMT
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 0.18 (-0.27%) month on month ...
Tuesday, 16 December 14
SUB-BIT FOB INDONESIA COAL SWAP CONTINUES ITS FALL
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 1.7 ...
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from develo ...
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- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
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- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
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- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
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- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
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- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
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- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
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- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
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- Central Electricity Authority - India
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- Jorong Barutama Greston.PT - Indonesia
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- White Energy Company Limited
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- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
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- Energy Development Corp, Philippines
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- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
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- Vijayanagar Sugar Pvt Ltd - India
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- Parliament of New Zealand
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- Bukit Baiduri Energy - Indonesia
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- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
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- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
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- Indo Tambangraya Megah - Indonesia
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- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
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- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
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- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
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- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
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- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
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- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
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- Wilmar Investment Holdings
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- Neyveli Lignite Corporation Ltd, - India
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- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
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- Bukit Asam (Persero) Tbk - Indonesia
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- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
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