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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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Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
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- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- The University of Queensland
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
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