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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
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- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
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- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
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- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
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- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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