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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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- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
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- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
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- Africa Commodities Group - South Africa
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- Electricity Authority, New Zealand
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- Alfred C Toepfer International GmbH - Germany
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- Australian Coal Association
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- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
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- Indian Oil Corporation Limited
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- Merrill Lynch Commodities Europe
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- Economic Council, Georgia
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- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
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- Coal and Oil Company - UAE
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- Planning Commission, India
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- CNBM International Corporation - China
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- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- European Bulk Services B.V. - Netherlands
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- Thai Mozambique Logistica
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Singapore Mercantile Exchange
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- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Parliament of New Zealand
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- Australian Commodity Traders Exchange
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- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
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- Central Electricity Authority - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
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- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
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- Interocean Group of Companies - India
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- Eastern Coal Council - USA
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- Ministry of Mines - Canada
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