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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Tuesday, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
Saturday, 04 July 09
MINING CONTRACT SOUGHT FOR COAL AREA IN MASBATE
Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- The University of Queensland
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
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