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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, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
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- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Marubeni Corporation - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Planning Commission, India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
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