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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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Monday, 15 June 15
API 5 FOB NEWCASTLE COAL SWAP: Q1'16 DELIVERY CLOSED 1.14% LOWER THAN Q4'15 DELIVERY PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 1.10 per MT (2.47%) month over month to US$ 45.67 per mt. The swap ...
Monday, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
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- Electricity Generating Authority of Thailand
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- Planning Commission, India
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- Chamber of Mines of South Africa
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
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- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
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- Energy Link Ltd, New Zealand
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- Indian Oil Corporation Limited
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- The Treasury - Australian Government
- Independent Power Producers Association of India
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- Formosa Plastics Group - Taiwan
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- New Zealand Coal & Carbon
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- Directorate Of Revenue Intelligence - India
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- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
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- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
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- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
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- Economic Council, Georgia
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- Cement Manufacturers Association - India
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- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
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- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
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- Minerals Council of Australia
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- Trasteel International SA, Italy
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- Mintek Dendrill Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
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- Thiess Contractors Indonesia
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- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
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- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
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- Kepco SPC Power Corporation, Philippines
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- Australian Coal Association
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
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