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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, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- PTC India Limited - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
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