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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, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Planning Commission, India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Bhatia International Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
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