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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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- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Mercator Lines Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- Marubeni Corporation - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
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