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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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Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
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- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
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