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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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Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Australian Coal Association
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- PTC India Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
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