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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, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- The University of Queensland
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
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