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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, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Eastern Energy - Thailand
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
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