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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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Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
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