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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Minerals Council of Australia
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- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
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- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
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- ICICI Bank Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
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- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Parliament of New Zealand
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- Heidelberg Cement - Germany
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- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
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- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
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- Petron Corporation, Philippines
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- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
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- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
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- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
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- New Zealand Coal & Carbon
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- Timah Investasi Mineral - Indoneisa
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- The State Trading Corporation of India Ltd
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- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
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- Indonesian Coal Mining Association
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- Videocon Industries ltd - India
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- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
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- India Bulls Power Limited - India
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- Power Finance Corporation Ltd., India
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- McConnell Dowell - Australia
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- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
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- Cement Manufacturers Association - India
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- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
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- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
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- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
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- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
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