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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, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
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- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
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- Thai Mozambique Logistica
- PTC India Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
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- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
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- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Ambuja Cements Ltd - India
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- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
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- Interocean Group of Companies - India
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- Xindia Steels Limited - India
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- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
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- Indian Oil Corporation Limited
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- Trasteel International SA, Italy
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- Formosa Plastics Group - Taiwan
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- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
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- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
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- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
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- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Australian Coal Association
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