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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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Monday, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
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