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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
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- India Bulls Power Limited - India
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- SMG Consultants - Indonesia
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- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
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- Gujarat Mineral Development Corp Ltd - India
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- White Energy Company Limited
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- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- The University of Queensland
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
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