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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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Friday, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- PTC India Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
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