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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, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
Tuesday, 03 November 15
EU OIL MAJORS FACE FURTHER EARNINGS DECLINE IN Q415 - FITCH RATINGS
The sharp drop in major European oil companies' third-quarter profits is likely to be extended in the fourth quarter as refining margins, which ...
Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s ...
Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.81(3.71 %) per ton month over month.
A commodity swap ...
Sunday, 01 November 15
THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
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- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- VISA Power Limited - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Bhatia International Limited - India
- The University of Queensland
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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