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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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Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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