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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, 20 June 13
CAPESIZE : FINALLY A SUBSTANTIAL IMPROVEMENT IN RATES! - FEARNLEYS A.S
Handy
Atlantic market kept a steady curve from last week. US Gulf positions fetched tick above USD 21k for Cont/Skaw direction, and vessels fixed f ...
Wednesday, 19 June 13
NEWCASTLE SHIPPED 16.05 PERCENT LESS COAL W/E 17 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 2,606,071 tons of coal for the week ended 0700 hours 17 June 2013, Newcastle Port Corp. ...
Sunday, 16 June 13
WEAK DEMAND KEEPS COAL PRICES LOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 2.94 percent week on week but gained 0.06 percent ...
Saturday, 15 June 13
S7 AND S8 ROUTES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week freight movement was fairly firm with news of China is rebuilding iron ore stockpiles, and ease import rules. Cape and Pana ...
Saturday, 15 June 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO AND A HALF YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for two and a half years in the three months ended May 2013, accordin ...
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- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
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