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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, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
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- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- The University of Queensland
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
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