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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, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
Monday, 18 August 14
CFR SOUTH CHINA COAL SWAP PERFORMED WELL THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.45 (+0.66%) day on day and US$ 0.30 (+0.44%)&nbs ...
Saturday, 16 August 14
HIGH DEMAND OF IRON ORE SHIPMENTS PUSHED CAPE INDEX UPWARDS
COALspot.com: This week's freight market was buoyant with Cape and panamax index seeing a big jump pushing the BDI above 1,000 points week on c ...
Friday, 15 August 14
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
13-16 October 2014
Grand Hyatt Jakarta, Indonesia
Web Site
The country’s definitive ...
Thursday, 14 August 14
U.S. STEAM COAL IMPORTS REMAIN DOWN SHARPLY FROM HISTORIC HIGH IN 2007, SAYS EIA
COALspot.com: U.S. steam coal imports at power plants have fallen significantly from their peak level of more than 30 million tons in 2007 to less ...
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- Mercator Lines Limited - India
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- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
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- Aboitiz Power Corporation - Philippines
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
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- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
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- Planning Commission, India
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- Africa Commodities Group - South Africa
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- Agrawal Coal Company - India
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- White Energy Company Limited
- SMC Global Power, Philippines
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- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
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- Baramulti Group, Indonesia
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- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
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- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
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- Eastern Coal Council - USA
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- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
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- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
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- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
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- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
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- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
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- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
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- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
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- Sojitz Corporation - Japan
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