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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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Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Gujarat Mineral Development Corp Ltd - India
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- IEA Clean Coal Centre - UK
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- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
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- Kapuas Tunggal Persada - Indonesia
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- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
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- PTC India Limited - India
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- Wood Mackenzie - Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Meralco Power Generation, Philippines
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- Maharashtra Electricity Regulatory Commission - India
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- Indonesian Coal Mining Association
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- Australian Coal Association
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- SMG Consultants - Indonesia
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- AsiaOL BioFuels Corp., Philippines
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- Baramulti Group, Indonesia
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- GMR Energy Limited - India
- Chamber of Mines of South Africa
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- Videocon Industries ltd - India
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- Minerals Council of Australia
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- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
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- Australian Commodity Traders Exchange
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- Georgia Ports Authority, United States
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- Metalloyd Limited - United Kingdom
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- Renaissance Capital - South Africa
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- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
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- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
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- Malabar Cements Ltd - India
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- McConnell Dowell - Australia
- White Energy Company Limited
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- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
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- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
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- Electricity Generating Authority of Thailand
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- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
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- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
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- Power Finance Corporation Ltd., India
- MS Steel International - UAE
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- Bangladesh Power Developement Board
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- The University of Queensland
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- Economic Council, Georgia
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- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
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