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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 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
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- Globalindo Alam Lestari - Indonesia
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- Indogreen Group - Indonesia
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- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
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- Ministry of Transport, Egypt
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- Economic Council, Georgia
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- Mintek Dendrill Indonesia
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- Commonwealth Bank - Australia
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- ASAPP Information Group - India
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- Wood Mackenzie - Singapore
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- Renaissance Capital - South Africa
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- London Commodity Brokers - England
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- Minerals Council of Australia
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- Indonesian Coal Mining Association
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- International Coal Ventures Pvt Ltd - India
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- Eastern Energy - Thailand
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- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- India Bulls Power Limited - India
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- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
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- New Zealand Coal & Carbon
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
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- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
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- MS Steel International - UAE
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
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- Coal and Oil Company - UAE
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- Global Green Power PLC Corporation, Philippines
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- Merrill Lynch Commodities Europe
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- Indian Energy Exchange, India
- Planning Commission, India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
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- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
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