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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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- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Planning Commission, India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
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