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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 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- PTC India Limited - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
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