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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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Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
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