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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, 21 January 20
ASIA'S APPETITE FOR COAL GROWS, WITH CHINA THE KEY DECIDER - NIKKEI
Although renewable power generation is expected to rise significantly in Asia, India’s vast electricity needs will still underpin global dema ...
Tuesday, 21 January 20
THERMAL COAL PRICES SET FOR RECOVERY THIS YEAR AS OVERSUPPLY TIGHTENS - REUTERS
Thermal coal prices are expected to recover this year after losing around a third of their value last year as demand from some south-east Asian cou ...
Monday, 20 January 20
INDIA TO STOP SUBSTITUTABLE COAL IMPORT; CAN GO FOR AUCTION OF 100 FULLY EXPLORED NEW BLOCKS: JOSHI - PTI
The Cabinet recently approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation ) Act ...
Monday, 20 January 20
CHINA DECEMBER COAL OUTPUT UP 2.4 PERCENT ON YEAR - STATS BUREAU: REUTERS
China produced 331.74 million tonnes of coal in December, up 2.4 percent on the year, the National Bureau of Statistics said on Friday.
...
Monday, 20 January 20
CHINA IMPORTED 124.4 MLN TONNES OF COAL FROM INDONESIA IN 2019, UP 15.1 PERCENT YOY - BANCHERO COSTA
China's coal imports raced ahead in 2019, surprising many who had expected that in the months of 2019 to come the government would clamp down s ...
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- Jorong Barutama Greston.PT - Indonesia
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- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
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- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
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- Cement Manufacturers Association - India
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- Antam Resourcindo - Indonesia
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- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
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- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Australian Coal Association
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
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- The Treasury - Australian Government
- The University of Queensland
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- AsiaOL BioFuels Corp., Philippines
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- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
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- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
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- Ministry of Mines - Canada
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- GMR Energy Limited - India
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- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
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- The State Trading Corporation of India Ltd
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- Energy Link Ltd, New Zealand
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- Ministry of Transport, Egypt
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- Meralco Power Generation, Philippines
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- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
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- Bukit Makmur.PT - Indonesia
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- Metalloyd Limited - United Kingdom
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- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Planning Commission, India
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- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
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- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
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- Medco Energi Mining Internasional
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- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
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- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
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- Economic Council, Georgia
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- White Energy Company Limited
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- Orica Australia Pty. Ltd.
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