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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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Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
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