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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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Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
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- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
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