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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, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
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- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- The University of Queensland
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Aditya Birla Group - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
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