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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, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
COALspot.com: The positive sentiment in which the week prior ended carried on through-out last week as well, the end of which marked the first posi ...
Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
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Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
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- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
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