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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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Friday, 30 April 21
HIGH-SULPHUR FUEL OIL SALES REBOUND AFTER PRE-IMO 2020 - BIMCO
HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is however still less than a third of high-sulphur fuel sales in Q1 2019, before t ...
Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot pric ...
Monday, 26 April 21
CHINA TO FURTHER CUT COAL USE IN 2021 - XINHUA
China aims to reduce the share of coal in its energy mix to less than 56% this year, according to a guideline released by the National Energy Admin ...
Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...
Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...
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- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
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