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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, 12 January 10
COAL PRICE FORECAST RAISED AT ANZ ON STRONGER CHINESE DEMAND
Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from Chin ...
Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT
PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a c ...
Monday, 11 January 10
THE MARKET IS LIKELY TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market for the first week of the year was quite active and the market especially in the Panamax and Supramax s ...
Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009
Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million ton ...
Saturday, 09 January 10
THE FAR EAST MARKET STARTED TO STABILIZE - FEARNLEYS
Handy
The FEAST market started to stabilize after the quite holidays and we saw growing activity fed by Chinese coal and iron ore imports and Indi ...
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- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
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