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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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Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
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