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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 $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
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