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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, 12 June 13
INDONESIAN COAL PRICE REFERENCE SLIDES TO 2013 LOW
COALspot.com - Indonesian Coal Price Reference continues to take its lumps this month, dropping about 0.54 % and hitting a 2013 low. The Indonesian ...
Tuesday, 11 June 13
COAL: NO SIGN OF RECOVERY - GABRIELLA
COALspot.com: We attended the 19th Annual Coaltrans Asia Conference, where we found most of the speakers were not very optimistic on the outlook for ...
Tuesday, 11 June 13
NEWCASTLE PORT SHIPPED MORE COAL WEEK ENDED 11 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 3,104,509 tons of coal for the week ended 0700 hours 11 June 2013, Newcastle Port Corp. ...
Tuesday, 11 June 13
OUTLOOK FOR CAPESIZES LOOKS GRIM, DESPITE FALLING IRON ORE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Things aren't looking all that rosy for the dry bulk market, despite a stronger volume of iron ore imports during the months of March and April, as ...
Sunday, 09 June 13
CFR SOUTH CHINA COAL SWAP IS UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.03 percent week on week but gained 0.07 pe ...
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- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
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- Wood Mackenzie - Singapore
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- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
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- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
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- The State Trading Corporation of India Ltd
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- Indian Energy Exchange, India
- Indonesian Coal Mining Association
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- Deloitte Consulting - India
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- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
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- Interocean Group of Companies - India
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- Mercator Lines Limited - India
- Medco Energi Mining Internasional
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- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
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- Trasteel International SA, Italy
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- Baramulti Group, Indonesia
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- Minerals Council of Australia
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- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
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- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- The Treasury - Australian Government
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- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
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- White Energy Company Limited
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
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- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
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- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Posco Energy - South Korea
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- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
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- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
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- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Australian Coal Association
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
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- Ministry of Mines - Canada
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
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- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
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- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
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- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
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- Eastern Coal Council - USA
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