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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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- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Australian Coal Association
- Anglo American - United Kingdom
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Planning Commission, India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
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