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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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Tuesday, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
Sunday, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
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- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
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- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
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- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
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- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
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- Electricity Authority, New Zealand
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- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Planning Commission, India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- White Energy Company Limited
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- Indika Energy - Indonesia
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- Merrill Lynch Commodities Europe
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- Bhushan Steel Limited - India
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- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
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- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
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- Siam City Cement - Thailand
- Aditya Birla Group - India
- McConnell Dowell - Australia
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- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
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- Eastern Energy - Thailand
- MS Steel International - UAE
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- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
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- Ministry of Transport, Egypt
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- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- PTC India Limited - India
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- Jaiprakash Power Ventures ltd
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- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
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- Coastal Gujarat Power Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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