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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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Wednesday, 24 June 20
MARKET INSIGHT - INTERMODAL
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Tuesday, 23 June 20
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Tuesday, 23 June 20
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Output of raw coal in China rose 0.9 percent year on year to 1.47 billion tonnes in the first five months of this year, official data showed.
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Monday, 22 June 20
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Saturday, 20 June 20
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Crude Oil Price Movements
Spot crude oil prices rebounded in May from low levels registered a month earlier, as physical market fundamentals im ...
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- Anglo American - United Kingdom
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- LBH Netherlands Bv - Netherlands
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- Metalloyd Limited - United Kingdom
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- The University of Queensland
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- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
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- Minerals Council of Australia
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- Mercator Lines Limited - India
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- Alfred C Toepfer International GmbH - Germany
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
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- Parliament of New Zealand
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- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
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- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
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- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
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- South Luzon Thermal Energy Corporation
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- Wood Mackenzie - Singapore
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- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
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- Wilmar Investment Holdings
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- Jorong Barutama Greston.PT - Indonesia
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- SMC Global Power, Philippines
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- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
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- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
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- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
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- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
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- Australian Coal Association
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
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- Holcim Trading Pte Ltd - Singapore
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- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
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- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
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- White Energy Company Limited
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