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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- The University of Queensland
- Georgia Ports Authority, United States
- Australian Coal Association
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
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