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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, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
Tuesday, 29 September 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.73 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.91 points Monday, up 0.73 percent week on week.
The index, released by China ...
Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bul ...
Tuesday, 29 September 20
INDONESIAN COAL COMPANIES' EARNINGS TO WEAKEN IN 2H20 - FITCH RATINGS
Rated Indonesian coal miners and contractors will have weaker operating and financial performances in the second half of 2020 than in the first, sa ...
Tuesday, 29 September 20
RUSSIA'S COAL PRODUCTION TO DROP BY 10.5% IN 2020, SAYS MINISTRY - TASS
Russia’s Economic Development Ministry projects a 10.5% decrease in coal production in the country in 2020 compared with last year to 395 mln ...
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- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
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- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
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- Planning Commission, India
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- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
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- Samtan Co., Ltd - South Korea
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- Sojitz Corporation - Japan
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- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
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- Ministry of Transport, Egypt
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- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
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- Eastern Coal Council - USA
- Australian Coal Association
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- Karbindo Abesyapradhi - Indoneisa
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- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
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- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
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- Energy Link Ltd, New Zealand
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- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
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- Parliament of New Zealand
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- Chamber of Mines of South Africa
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- Electricity Generating Authority of Thailand
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- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
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- Billiton Holdings Pty Ltd - Australia
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- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
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- Kumho Petrochemical, South Korea
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- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
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- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
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- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
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- International Coal Ventures Pvt Ltd - India
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- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
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- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
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