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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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Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
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- Meralco Power Generation, Philippines
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- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
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- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
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- Bhoruka Overseas - Indonesia
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- Singapore Mercantile Exchange
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- Coal and Oil Company - UAE
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- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
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- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
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- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
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- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
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- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
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- The University of Queensland
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- SMG Consultants - Indonesia
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- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
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- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
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- Thiess Contractors Indonesia
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- Karbindo Abesyapradhi - Indoneisa
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- Indian Oil Corporation Limited
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