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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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Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Parliament of New Zealand
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- The University of Queensland
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
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