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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Tuesday, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
Monday, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
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- Ambuja Cements Ltd - India
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- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
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- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
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- Ministry of Mines - Canada
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- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
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- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
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- Parliament of New Zealand
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- Power Finance Corporation Ltd., India
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- Economic Council, Georgia
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- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
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- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- New Zealand Coal & Carbon
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- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
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- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
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- SMC Global Power, Philippines
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- San Jose City I Power Corp, Philippines
- Australian Coal Association
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- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
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- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
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- Petron Corporation, Philippines
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- Price Waterhouse Coopers - Russia
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- Eastern Coal Council - USA
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- Karbindo Abesyapradhi - Indoneisa
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- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
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- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
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- Chettinad Cement Corporation Ltd - India
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- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
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- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
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- Bharathi Cement Corporation - India
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- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
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- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
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- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
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