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Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
 COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 million tons, Indonesian coal industry sources said.
China's Indonesian coal imports have jumped again drastically in July by 2.24 MMt compared to its June imports. Chinese's coal import from Indonesia in July was higher than India's imports from Indonesia.
India has imported only 6.48 million tons in July where’s China has imported about 10.48 MMt which was 4.00 million MT higher. 33.48% of total Indonesian coal exports have gone to China in July.
India was the largest Indonesian coal importer since January 2011 until April, followed by China and other asian countries. However, it lost its position to China since May 2011.
China is expected to import less coal in this month and coming months and may it return to market 4th quarter for more coal.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“The new Indonesian regulations, which stipulate benchmarking of coal prices to international market rates, are likely to increase the cost of imported coal. The impact on the tariff of such projects may vary, depending on the quality of imported coal and the fuel mix,” Pratik Prakashbapu Patil, minister of state for coal, said in a written reply to the Lok Sabha this week, an Indian media reported recently.
Another Indian large scale power producer said, “The new Indonesian coal policy will lead to a sharp escalation of coal prices to as high as 150 per cent, which could result in the project becoming unviable.” The UMPPs are looking for help from the power ministry to “intervene through an open dialogue with the Indonesian government and expeditiously resolve the coal price issue”.
However, an Indian analyst seen this issue from a different angle.
According to Dipesh Dipu, director, at Deloitte, “When Indian 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,” mydigitalfc reported.
Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well as for export market. The pricing was done on a transparent way using four internationally accepted coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 Indonesian Coal Reference Price for thermal coal at US$ 117.21 per ton per ton, which was 0.87 percent lesser than July 2011 price of US$ US$ 119.03 . Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 31 August 2011.
However Indonesian coal producers were offering coal above than the August Bench mark price. The current coal Price is almost dead, commented an Indonesian coal producer as the prices of coal is flat or soft compared to previous months. However, he believes that, the prices will improve coming months.
According to Indian power industry analyst opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such Indian cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “however still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This different platform of pricing method is creating lot of confusion in the Indian trade circles” an Indian trader commented.
79.93 percent of total coal exports in July shipped to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by COALspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
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