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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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Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Port Waratah Coal Services - Australia
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- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
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- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
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- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
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- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
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- Directorate General of MIneral and Coal - Indonesia
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- Bharathi Cement Corporation - India
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- GAC Shipping (India) Pvt Ltd
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- Medco Energi Mining Internasional
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Singapore Mercantile Exchange
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- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
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- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
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- IEA Clean Coal Centre - UK
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- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
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- The University of Queensland
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- Economic Council, Georgia
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- Parliament of New Zealand
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- Parry Sugars Refinery, India
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- South Luzon Thermal Energy Corporation
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- VISA Power Limited - India
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- Thiess Contractors Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
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- Merrill Lynch Commodities Europe
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- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- MS Steel International - UAE
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- Samtan Co., Ltd - South Korea
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- Leighton Contractors Pty Ltd - Australia
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- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
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- Minerals Council of Australia
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- The Treasury - Australian Government
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- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
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- CNBM International Corporation - China
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- Kohat Cement Company Ltd. - Pakistan
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- Eastern Coal Council - USA
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- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
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