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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, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
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