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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
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.
“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,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable 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 June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. 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 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources 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 India 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 . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes 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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Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Planning Commission, India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
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