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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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Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
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- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
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