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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, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- PTC India Limited - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
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