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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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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
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