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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
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- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
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- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
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- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Romanian Commodities Exchange
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- Parliament of New Zealand
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- Ministry of Transport, Egypt
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- Renaissance Capital - South Africa
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- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
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- Sical Logistics Limited - India
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- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
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- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
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- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
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- San Jose City I Power Corp, Philippines
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- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
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- Central Electricity Authority - India
- Bangladesh Power Developement Board
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- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
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- India Bulls Power Limited - India
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- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
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- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
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- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
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- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
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- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
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- Mjunction Services Limited - India
- Indogreen Group - Indonesia
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- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
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- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
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- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
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- MS Steel International - UAE
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- SMG Consultants - Indonesia
- The Treasury - Australian Government
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