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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, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 m ...
Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...
Tuesday, 21 June 11
COURT BATTLE PUTS MASSIVE COAL PROJECT IN JEOPARDY - KOREA JOONGANG DAILY
As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...
Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the ses ...
Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
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- VISA Power Limited - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Australian Coal Association
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
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