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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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Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
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- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
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