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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, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Intertek Mineral Services - Indonesia
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- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
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- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
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- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
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- Indian Oil Corporation Limited
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- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
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- Agrawal Coal Company - India
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- Bulk Trading Sa - Switzerland
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- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
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- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
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- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
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- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Deloitte Consulting - India
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- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
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- White Energy Company Limited
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- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
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- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
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- Parry Sugars Refinery, India
- Economic Council, Georgia
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- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
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- Indo Tambangraya Megah - Indonesia
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- Coal and Oil Company - UAE
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- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
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- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
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- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
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- Georgia Ports Authority, United States
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- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
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- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
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