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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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Wednesday, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Planning Commission, India
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