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