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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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Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
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