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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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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
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