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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, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
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- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Deloitte Consulting - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
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