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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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Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
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- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
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