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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Attock Cement Pakistan Limited
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- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
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- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
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- AsiaOL BioFuels Corp., Philippines
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- CNBM International Corporation - China
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- Therma Luzon, Inc, Philippines
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- Banpu Public Company Limited - Thailand
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- Energy Link Ltd, New Zealand
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- Marubeni Corporation - India
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- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
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- Billiton Holdings Pty Ltd - Australia
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- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
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- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
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- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
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- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
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- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
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- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
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- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
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- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
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- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
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- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
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- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
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- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
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- Planning Commission, India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
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- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
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- Star Paper Mills Limited - India
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- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
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- Sarangani Energy Corporation, Philippines
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- Holcim Trading Pte Ltd - Singapore
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- Independent Power Producers Association of India
- The University of Queensland
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- PNOC Exploration Corporation - Philippines
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