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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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Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- Goldman Sachs - Singapore
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
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