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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, 22 August 13
PANAMAX : PERIOD MARKET IS STILL BEING LED BY STRONGER SENTIMENT IN THE FFA'S - FEARNRESEARCH
Handy
This week started slowly as expected. Indo biz now rate APS around 7k +60k to china and around 8k+80k to India. However, there are some ships ...
Wednesday, 21 August 13
DRY BULK SHIPPING - POSITIVE WINDOW FOR CAPESIZE OWNERS - PETER SAND
By: Peter Sand, Chief Shipping Analyst, BIMCO
Demand:
“Expect the unexpected from the dry bulk market” was what we wrote last time ar ...
Wednesday, 21 August 13
RATES FOR CAPES MOVED DECISIVELY NORTH THIS WEEK - INTERMODAL
COALspot.com - Right when the BDI seemed ready for another dive below the 1000 points level, the Dry Bulk market made significant comeback this week ...
Tuesday, 20 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS FALL 19.15 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 19.15 per cent week on week to 2.39 million mt f ...
Tuesday, 20 August 13
CAPESIZE RATES MORE SENSITIVE TO DEMAND - COMMODORE RESEARCH & CONSULTANCY
COALspot.com : Approximately 71.50 million tons of iron ore is now stockpiled at Chinese ports, 900,000 tons (-1%) less than a week ago, Commodore R ...
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- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Economic Council, Georgia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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