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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Wednesday, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL
The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing ...
Tuesday, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
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- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
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- Billiton Holdings Pty Ltd - Australia
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- VISA Power Limited - India
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- Edison Trading Spa - Italy
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- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
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- Sakthi Sugars Limited - India
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- Carbofer General Trading SA - India
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- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
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- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
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- Power Finance Corporation Ltd., India
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- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
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- Mercuria Energy - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
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- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
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- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
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- Electricity Authority, New Zealand
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- European Bulk Services B.V. - Netherlands
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- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
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- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
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- Bangladesh Power Developement Board
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- Commonwealth Bank - Australia
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- GN Power Mariveles Coal Plant, Philippines
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- Neyveli Lignite Corporation Ltd, - India
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- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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- Savvy Resources Ltd - HongKong
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- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
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- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
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- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
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- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
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- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
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- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
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- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
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- Cement Manufacturers Association - India
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- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
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- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Ministry of Mines - Canada
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- Economic Council, Georgia
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- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
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- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
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