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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, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. Howev ...
Monday, 16 April 18
MINISTER IGNASIUS JONAN SPEAKS HIS MIND AT INDONESIA MINER - IAN WOLLFF
The Minister for Energy and Mineral resources, Ignasius Jonan, delivered a key note address at the Indonesia Miner conference in Jakarta on the 11 ...
Thursday, 12 April 18
THE PERFECT STORM FOR THE BIG SHIPS - THE BALTIC BRIEFING
Capesize
The perfect storm for the big ships: with holidays, force majeure in two ore exporting ports and bad weather undermining the market. A l ...
Thursday, 12 April 18
SHIPPING CAN MANAGE US-CHINA TARIFFS, BUT RISKS RISING - FITCH
Container and, to some extent, dry bulk would probably be the shipping segments most affected by the recently announced US and China tariffs, Fitch ...
Thursday, 12 April 18
SUPRAS HAVE FIXED MID $11K FOR AN INDO RV TO S. CHINA DELIVERY PHILIPPINES - FEARNLEYS
Supramax
Slow week with little light for improving rates. ECSA to Far East still around $15k + bb and same to Med ca $14k, says Fearnleys in its ...
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- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- The University of Queensland
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