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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, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Australian Coal Association
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
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