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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 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Australian Coal Association
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- The University of Queensland
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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