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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, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
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- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
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- Indian Oil Corporation Limited
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- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
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- Indian Energy Exchange, India
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- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
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- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Xindia Steels Limited - India
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- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
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- Trasteel International SA, Italy
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- Orica Australia Pty. Ltd.
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- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
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- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
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- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
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- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
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- Agrawal Coal Company - India
- Planning Commission, India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Goldman Sachs - Singapore
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- Ministry of Mines - Canada
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