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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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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- White Energy Company Limited
- Posco Energy - South Korea
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
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