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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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Saturday, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
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- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
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