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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
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