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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, 23 September 19
CHINA RECORDS SLOWER GROWTH IN COAL PRODUCTION - XINHUA
The growth of China’s raw coal production slowed down in August, data from the National Bureau of Statistics (NBS) showed.
Aro ...
Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
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- Wood Mackenzie - Singapore
- Aditya Birla Group - India
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- GMR Energy Limited - India
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- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
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- London Commodity Brokers - England
- Interocean Group of Companies - India
- MS Steel International - UAE
- White Energy Company Limited
- Ministry of Transport, Egypt
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
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- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
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- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
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- Trasteel International SA, Italy
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- Eastern Energy - Thailand
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- Bangladesh Power Developement Board
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- Chamber of Mines of South Africa
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- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
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- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
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- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
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- AsiaOL BioFuels Corp., Philippines
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- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
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- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
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- VISA Power Limited - India
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- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
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- Salva Resources Pvt Ltd - India
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- Minerals Council of Australia
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- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
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- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
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- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
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- Australian Coal Association
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
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- PTC India Limited - India
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- Australian Commodity Traders Exchange
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- Savvy Resources Ltd - HongKong
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- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
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- IEA Clean Coal Centre - UK
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