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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 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically ...
Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
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- Heidelberg Cement - Germany
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- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- SMC Global Power, Philippines
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- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
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- Attock Cement Pakistan Limited
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Alfred C Toepfer International GmbH - Germany
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- The University of Queensland
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- Energy Development Corp, Philippines
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- Aditya Birla Group - India
- Medco Energi Mining Internasional
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- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
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- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
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- Price Waterhouse Coopers - Russia
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- Samtan Co., Ltd - South Korea
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- Minerals Council of Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
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- Ministry of Mines - Canada
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- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
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- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- White Energy Company Limited
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- Tamil Nadu electricity Board
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- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
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- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
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- Kobexindo Tractors - Indoneisa
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- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
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- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Planning Commission, India
- Altura Mining Limited, Indonesia
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