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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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Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
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