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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, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
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- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
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