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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, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
The government is considering to shut down the aging Suralaya coal-fired power plant (PLTU) in Cilegon, Banten, and replace it with green energy, a ...
Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
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- Ministry of Transport, Egypt
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
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