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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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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Planning Commission, India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
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