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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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Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
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- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- The University of Queensland
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
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