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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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Sunday, 08 March 09
AUSTRALIA'S FELIX STUDYING COAL ACQUISITIONS IN INDIA, INDONESIA
Bloomberg reported that, Felix Resources Ltd., an Australian supplier of coal to Korea and Japan, is studying acquisitions of energy coal assets in ...
Saturday, 07 March 09
THERMAL COAL PRICES MAY DROP, STANDARD CHARTERED SAYS
Bloomberg reported that, Coal prices may decline as a slump in demand for the fuel outpaces cuts in production, Standard Chartered Plc said.
Exp ...
Friday, 06 March 09
STRAITS ASIA EYES 3RD MINE
Straitstimes reported that, Mining company Straits Asia Resources is on an expansion trail to more than double its output by 2012.
Amid the econo ...
Friday, 06 March 09
INDONESIA MAY MISS 2009 COAL OUTPUT TARGET-OFFICIAL
Indonesia, the world's top thermal coal exporter, may fail to achieve its coal production target this year as the global economic crisis dents dema ...
Friday, 06 March 09
POWER FIRMS HEAD TO INDONESIA FOR COAL
The Hindu Businessline reported that, The enactment of a new, more liberal, mining legislation in Indonesia is drawing coal-starved Indian power uti ...
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- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
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