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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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Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
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- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
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- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
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- Banpu Public Company Limited - Thailand
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- Coalindo Energy - Indonesia
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- Electricity Generating Authority of Thailand
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- The Treasury - Australian Government
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- Sindya Power Generating Company Private Ltd
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- Ministry of Transport, Egypt
- Minerals Council of Australia
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- Economic Council, Georgia
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- Power Finance Corporation Ltd., India
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- Parliament of New Zealand
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- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
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- Siam City Cement - Thailand
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- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
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- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
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- Maharashtra Electricity Regulatory Commission - India
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- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
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- White Energy Company Limited
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- Central Electricity Authority - India
- Tamil Nadu electricity Board
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- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
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- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
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- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
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- Wood Mackenzie - Singapore
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- Kalimantan Lumbung Energi - Indonesia
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- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
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- Planning Commission, India
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- Indian Energy Exchange, India
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