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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
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- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
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