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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, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- The University of Queensland
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Planning Commission, India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
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