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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Sunday, 07 July 13
COAL PRICES REMAIN UNDER PRESSURE
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Friday, 05 July 13
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Thursday, 04 July 13
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Thursday, 04 July 13
ASX LISTED QBL TO ACQUIRE INTERESTS IN MOZAMBIQUE COAL EXPLORATION LICENSES
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Thursday, 04 July 13
HANDY : INDO/CHINA, CHARTERERS RATING AROUND US$ 10,000 - FEARNLEYS AS
Handy
The Feast market firmed slightly up as mid-July cargos entered the market, but charterers seems not in hurry to cover them and looking for ch ...
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- Energy Development Corp, Philippines
- Central Java Power - Indonesia
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- Coal and Oil Company - UAE
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- The Treasury - Australian Government
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- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
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- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
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- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- TNB Fuel Sdn Bhd - Malaysia
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- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- London Commodity Brokers - England
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- CNBM International Corporation - China
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- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
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- Sindya Power Generating Company Private Ltd
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- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
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- Planning Commission, India
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- Price Waterhouse Coopers - Russia
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- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
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- Billiton Holdings Pty Ltd - Australia
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- Bhoruka Overseas - Indonesia
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- Merrill Lynch Commodities Europe
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- Standard Chartered Bank - UAE
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- Energy Link Ltd, New Zealand
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- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
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- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
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- Global Coal Blending Company Limited - Australia
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- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
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- Binh Thuan Hamico - Vietnam
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- White Energy Company Limited
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- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
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- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
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- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
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- Directorate General of MIneral and Coal - Indonesia
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- Vedanta Resources Plc - India
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- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Economic Council, Georgia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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