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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- Ministry of Finance - Indonesia
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- PNOC Exploration Corporation - Philippines
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- Jaiprakash Power Ventures ltd
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- Indian Energy Exchange, India
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- Gujarat Mineral Development Corp Ltd - India
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- Lanco Infratech Ltd - India
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- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
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- Sojitz Corporation - Japan
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- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
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- Eastern Coal Council - USA
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- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
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- The Treasury - Australian Government
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- Minerals Council of Australia
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- Neyveli Lignite Corporation Ltd, - India
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- Deloitte Consulting - India
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- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- The University of Queensland
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- Carbofer General Trading SA - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
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- Africa Commodities Group - South Africa
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- New Zealand Coal & Carbon
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- IHS Mccloskey Coal Group - USA
- Australian Coal Association
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- Economic Council, Georgia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- MS Steel International - UAE
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
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- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
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- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
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- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
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- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
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- Planning Commission, India
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- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
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- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
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- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
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- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
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