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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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Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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Showing 5311 to 5315 news of total 6871 |
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- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
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