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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, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
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- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
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