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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, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
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- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
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- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
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- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
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- Merrill Lynch Commodities Europe
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- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Romanian Commodities Exchange
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- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
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- Meralco Power Generation, Philippines
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- Holcim Trading Pte Ltd - Singapore
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- Tamil Nadu electricity Board
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- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
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- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
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- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
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- Planning Commission, India
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- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
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- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
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- Georgia Ports Authority, United States
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- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
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- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
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- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
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- Electricity Authority, New Zealand
- GMR Energy Limited - India
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- Mjunction Services Limited - India
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- Videocon Industries ltd - India
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- Trasteel International SA, Italy
- Sical Logistics Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- New Zealand Coal & Carbon
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