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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, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Parliament of New Zealand
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
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