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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, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
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- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
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- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
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- Tamil Nadu electricity Board
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- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
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- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
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- Kaltim Prima Coal - Indonesia
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- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
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