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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, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Planning Commission, India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
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