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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
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- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
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- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
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- Banpu Public Company Limited - Thailand
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- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
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- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- SMC Global Power, Philippines
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
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- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
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- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
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- Petrochimia International Co. Ltd.- Taiwan
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- Billiton Holdings Pty Ltd - Australia
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- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
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- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- PTC India Limited - India
- Eastern Coal Council - USA
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- Mercuria Energy - Indonesia
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- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
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- Petron Corporation, Philippines
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- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
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- Global Coal Blending Company Limited - Australia
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- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
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- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
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- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
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- Economic Council, Georgia
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- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
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- Global Business Power Corporation, Philippines
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- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
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- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
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- Sakthi Sugars Limited - India
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- Central Electricity Authority - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
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- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
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- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
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- ICICI Bank Limited - India
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- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
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