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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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Friday, 06 July 18
COAL PRICES HAVE REMAINED STRONG BUT ARE SET TO DECLINE - NAB
Coal spot prices have been highly volatile in recent years, with an upward trend since recent lows in April 2018, National Australia Bank says in i ...
Friday, 06 July 18
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KNOWLEDGE TO ELEVATE
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Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
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- Rio Tinto Coal - Australia
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- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
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- The University of Queensland
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- Parliament of New Zealand
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- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
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- Coal and Oil Company - UAE
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- Central Electricity Authority - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
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- PNOC Exploration Corporation - Philippines
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- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
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- Karbindo Abesyapradhi - Indoneisa
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- White Energy Company Limited
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- Australian Coal Association
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- Australian Commodity Traders Exchange
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- Orica Australia Pty. Ltd.
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- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
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- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
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- Bangladesh Power Developement Board
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- Romanian Commodities Exchange
- Goldman Sachs - Singapore
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- Lanco Infratech Ltd - India
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- Singapore Mercantile Exchange
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- Aditya Birla Group - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
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- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
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- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
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- Medco Energi Mining Internasional
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- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
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- South Luzon Thermal Energy Corporation
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- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Africa Commodities Group - South Africa
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