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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, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
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- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Parliament of New Zealand
- Central Electricity Authority - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
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