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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, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
Monday, 27 April 09
INDONESIA S.KALIMANTAN GETS COAL TRUCKS OFF PUBLIC ROADS - REUTERS
A local government in one of Indonesia's top coal-producing areas has banned coal and palm oil firms from using public roads because of the damage ...
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- Sical Logistics Limited - India
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- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
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- SN Aboitiz Power Inc, Philippines
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- Electricity Authority, New Zealand
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- Parliament of New Zealand
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- Kohat Cement Company Ltd. - Pakistan
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- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
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- Ceylon Electricity Board - Sri Lanka
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- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
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- Ministry of Mines - Canada
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- Indian Energy Exchange, India
- The University of Queensland
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- Power Finance Corporation Ltd., India
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- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Agrawal Coal Company - India
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- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
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- Trasteel International SA, Italy
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
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- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
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- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
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- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
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- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
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