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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, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
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- Trasteel International SA, Italy
- Posco Energy - South Korea
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
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