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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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Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- The University of Queensland
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
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