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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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Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
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Friday, 01 May 20
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Wednesday, 29 April 20
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A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
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- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- White Energy Company Limited
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
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