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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, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
Sunday, 23 September 12
INDIA IMPORTED 11.40 PERCENT MORE INDONESIAN COAL IN AUGUST
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 26,451,565* tons of coal in August 2012, compared to 27.88* mill ...
Saturday, 22 September 12
SOFT BUNKER PRICES KEEP INDONESIA TO INDIA FREIGHTS STABLE - VISTAAR
COALspot.com - The freight market overall remained buoyant with all indices up except for Panamax index. The main effect seems to be increased shipm ...
Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling th ...
Thursday, 20 September 12
SUPRAMAX : INDO-INDIA ROUNDS WERE AROUND USD 12K - FEARNLEYS
Handy
Not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchan ...
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- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
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- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
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- Wilmar Investment Holdings
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- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
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- Eastern Coal Council - USA
- Economic Council, Georgia
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- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Australian Coal Association
- The Treasury - Australian Government
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- Ministry of Transport, Egypt
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- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
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- Eastern Energy - Thailand
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- Samtan Co., Ltd - South Korea
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- SMC Global Power, Philippines
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- Port Waratah Coal Services - Australia
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- New Zealand Coal & Carbon
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- The State Trading Corporation of India Ltd
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- Thiess Contractors Indonesia
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- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
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- Planning Commission, India
- Singapore Mercantile Exchange
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- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
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- Merrill Lynch Commodities Europe
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- International Coal Ventures Pvt Ltd - India
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- Ministry of Finance - Indonesia
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- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
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- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
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- Africa Commodities Group - South Africa
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- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Aditya Birla Group - India
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- Parliament of New Zealand
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