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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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Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
Thursday, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
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- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
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