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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, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
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- Directorate Of Revenue Intelligence - India
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- Globalindo Alam Lestari - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
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- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
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- Independent Power Producers Association of India
- Parliament of New Zealand
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- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
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- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
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- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
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- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
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- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
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- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- PTC India Limited - India
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