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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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Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
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