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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, 22 August 13
PANAMAX : PERIOD MARKET IS STILL BEING LED BY STRONGER SENTIMENT IN THE FFA'S - FEARNRESEARCH
Handy
This week started slowly as expected. Indo biz now rate APS around 7k +60k to china and around 8k+80k to India. However, there are some ships ...
Wednesday, 21 August 13
DRY BULK SHIPPING - POSITIVE WINDOW FOR CAPESIZE OWNERS - PETER SAND
By: Peter Sand, Chief Shipping Analyst, BIMCO
Demand:
“Expect the unexpected from the dry bulk market” was what we wrote last time ar ...
Wednesday, 21 August 13
RATES FOR CAPES MOVED DECISIVELY NORTH THIS WEEK - INTERMODAL
COALspot.com - Right when the BDI seemed ready for another dive below the 1000 points level, the Dry Bulk market made significant comeback this week ...
Tuesday, 20 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS FALL 19.15 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 19.15 per cent week on week to 2.39 million mt f ...
Tuesday, 20 August 13
CAPESIZE RATES MORE SENSITIVE TO DEMAND - COMMODORE RESEARCH & CONSULTANCY
COALspot.com : Approximately 71.50 million tons of iron ore is now stockpiled at Chinese ports, 900,000 tons (-1%) less than a week ago, Commodore R ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
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