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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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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Karbindo Abesyapradhi - Indoneisa
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- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
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- Vedanta Resources Plc - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
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- Indian Oil Corporation Limited
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- Binh Thuan Hamico - Vietnam
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- ICICI Bank Limited - India
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- MS Steel International - UAE
- Commonwealth Bank - Australia
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- Energy Link Ltd, New Zealand
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- Alfred C Toepfer International GmbH - Germany
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- Tata Chemicals Ltd - India
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- Posco Energy - South Korea
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- Ceylon Electricity Board - Sri Lanka
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- Kartika Selabumi Mining - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
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- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
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- Singapore Mercantile Exchange
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- Romanian Commodities Exchange
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
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- The State Trading Corporation of India Ltd
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- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
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- Coal and Oil Company - UAE
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- GAC Shipping (India) Pvt Ltd
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- Anglo American - United Kingdom
- Indian Energy Exchange, India
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- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Parliament of New Zealand
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- Sree Jayajothi Cements Limited - India
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- Attock Cement Pakistan Limited
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- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
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- Carbofer General Trading SA - India
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