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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
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- Mjunction Services Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
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