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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, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Sical Logistics Limited - India
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- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- VISA Power Limited - India
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- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
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- Kumho Petrochemical, South Korea
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- Altura Mining Limited, Indonesia
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- Metalloyd Limited - United Kingdom
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- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
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- Sojitz Corporation - Japan
- Romanian Commodities Exchange
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- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
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- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
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- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
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- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
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- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
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- Singapore Mercantile Exchange
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- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- The University of Queensland
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- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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- Tata Chemicals Ltd - India
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- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
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- Australian Commodity Traders Exchange
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- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
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- Aditya Birla Group - India
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- Sree Jayajothi Cements Limited - India
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- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
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