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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, 04 November 13
API 8 CFR S.CHINA COAL SWAP FOR Q3' 2014 DELIVERY CLOSED 3.65% HIGHER COMPARED TO Q1' 2014 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.24 percept W-W on Friday 1 November 2013. The CFR South China Co ...
Sunday, 03 November 13
H2' 2014 INDONESIAN COAL PRICE ( SWAPS) SHOWS POSITIVE TREND
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 0.24 percept week on week on Friday 1 ...
Sunday, 03 November 13
THE CAPE SIZE INDEX FELL 13.61 PCT W-W
COALspot.com: The freight market continued to soften on the cape and panamax sectors , however the supramax and handy size remained fairly firm.
...
Saturday, 02 November 13
DRY BULK SHIPPERS AREN'T CELEBRATING, BUT THEIR SILENCE IS GOLDEN - MARKET REALIST
In October, performance for major dry bulk shipping companies was mixed. Companies like DryShips Inc. (DRYS) had pulled back more than Diana Shippin ...
Friday, 01 November 13
US'S COAL PRODUCTION UP 0.9 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
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- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
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- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
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- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
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- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
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- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Alfred C Toepfer International GmbH - Germany
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- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
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- Eastern Energy - Thailand
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- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
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- Deloitte Consulting - India
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- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
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- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
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- Georgia Ports Authority, United States
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- Australian Coal Association
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- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
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- Thai Mozambique Logistica
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
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- Commonwealth Bank - Australia
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- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
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- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
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- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
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- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
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- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
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- Coastal Gujarat Power Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
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