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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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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Australian Coal Association
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
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