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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, 25 October 17
COAL MARKETS REMAINED SUBDUED - DANIEL HYNES
Coal markets remained subdued.
Daniel Hynes, Senior Commodity Strategist at ANZ, Coking coal prices were unchanged amid an absence of fresh of ...
Wednesday, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
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- IEA Clean Coal Centre - UK
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- Chamber of Mines of South Africa
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- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
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- Toyota Tsusho Corporation, Japan
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- Ministry of Mines - Canada
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- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
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- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
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- Australian Coal Association
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- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Indian Oil Corporation Limited
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- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
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- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
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- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
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- Central Electricity Authority - India
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- Georgia Ports Authority, United States
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- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
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- Indo Tambangraya Megah - Indonesia
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- Ministry of Finance - Indonesia
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- Directorate Of Revenue Intelligence - India
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- London Commodity Brokers - England
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- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
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- Directorate General of MIneral and Coal - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Ministry of Transport, Egypt
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- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
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- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
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- International Coal Ventures Pvt Ltd - India
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