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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Wednesday, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
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- Price Waterhouse Coopers - Russia
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- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
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- Vedanta Resources Plc - India
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- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
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- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
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- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
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- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
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- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
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- The State Trading Corporation of India Ltd
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- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Parliament of New Zealand
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- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
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- South Luzon Thermal Energy Corporation
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- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
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- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
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- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
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- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
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- International Coal Ventures Pvt Ltd - India
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- Romanian Commodities Exchange
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- Thiess Contractors Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
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- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
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- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
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- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
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- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
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- Economic Council, Georgia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
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- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
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- White Energy Company Limited
- Agrawal Coal Company - India
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- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
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