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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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Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
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