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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, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
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