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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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Tuesday, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
Monday, 27 April 09
INDONESIA S.KALIMANTAN GETS COAL TRUCKS OFF PUBLIC ROADS - REUTERS
A local government in one of Indonesia's top coal-producing areas has banned coal and palm oil firms from using public roads because of the damage ...
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- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
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