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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, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Mari ...
Monday, 29 October 18
SUPRAMAX: THE ASIAN AREA SAW FALLING RATES, WITH A 61,000DWT FIXING DELIVERY KOHSICHANG TRIP VIA INDONESIA, REDELIVERY INDIA, AT $10,500 - BALTIC BRIEFING
Capesize
A market of two halves for most of the week with rates in the Atlantic firming and easing in the East for most of the week, but then, ...
Friday, 26 October 18
SHIP OPERATING COSTS EXPECTED TO RISE IN 2018 AND 2019 - MOORE STEPHENS
Total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.
...
Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. T ...
Thursday, 25 October 18
WHAT DOES THE "IMO 2020" REGULATION REALLY SAY? A QUICK GUIDE - BIMCO
KNOWLEDGE TO ELEVATE
The shipping industry has all eyes firmly fixed on the topic, but what exactly do the “IMO 2020” global sulph ...
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- Toyota Tsusho Corporation, Japan
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- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
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- Energy Link Ltd, New Zealand
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- White Energy Company Limited
- Ministry of Transport, Egypt
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- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
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- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Eastern Coal Council - USA
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- IHS Mccloskey Coal Group - USA
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- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
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- Electricity Generating Authority of Thailand
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- OPG Power Generation Pvt Ltd - India
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- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
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- Sinarmas Energy and Mining - Indonesia
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- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
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- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
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- Star Paper Mills Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
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- Pipit Mutiara Jaya. PT, Indonesia
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- Tamil Nadu electricity Board
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- Edison Trading Spa - Italy
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- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
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- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
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- Renaissance Capital - South Africa
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- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Minerals Council of Australia
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- Indian Energy Exchange, India
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- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
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- Vedanta Resources Plc - India
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- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
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