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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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Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
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