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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, 14 June 17
WORLD COAL PRODUCTION FELL BY 6.2%, THE LARGEST ANNUAL DECLINE ON RECORD - BP
COALspot.com: The 2017 edition of the BP Statistical Review of World Energy, shows global energy markets continuing to undergo long-term changes as ...
Wednesday, 14 June 17
HANDYSIZES AND PANAMAXES ENJOY THE TIGHTEST SUPPLY - PANOS TSILINGIRIS
The dry and the tanker shipping segments have dissimilar exposure to supply-driven opportunity (or risk). While the vintage (i.e., over 15 years ol ...
Tuesday, 13 June 17
THE TANKER FREIGHT MARKET IS STILL UNDER PRESSURE - GEORGE LAZARIDIS
News of U.S. inventory decline has hit the market by surprise with prices of the commodity showing some quick revival as OPEC continues to push wit ...
Monday, 12 June 17
THE BALTIC DRY INDEX TOOK A POSITIVE STEP
COALspot.com: The Freight market incline this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ...
Friday, 09 June 17
U.S WEEKLY COAL OUTPUT WAS FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
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- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
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- Australian Commodity Traders Exchange
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- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
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- Heidelberg Cement - Germany
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- Parliament of New Zealand
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- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
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- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
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- The State Trading Corporation of India Ltd
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- Wilmar Investment Holdings
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- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
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- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
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- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
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- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
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- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
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- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
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- Therma Luzon, Inc, Philippines
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- Binh Thuan Hamico - Vietnam
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- Goldman Sachs - Singapore
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- Attock Cement Pakistan Limited
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- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
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- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
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- Global Coal Blending Company Limited - Australia
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- McConnell Dowell - Australia
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- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Mjunction Services Limited - India
- Ministry of Mines - Canada
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- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
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- Thai Mozambique Logistica
- Economic Council, Georgia
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- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
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- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
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- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
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