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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- White Energy Company Limited
- Cement Manufacturers Association - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Australian Coal Association
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
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