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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, 10 April 20
INDIA'S BULKS SUPPLY CHAIN TAKES A HIT DURING LOCKDOWN - WOOD MACKENZIE
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Businesses are shut, and the supply chain is ...
Thursday, 09 April 20
SUSPENSION OF WRONGFUL TRADING IN LIGHT OF COVID 19 - WF&W
KNOWLEDGE TO ELEVATE
DIRECTORS’ PERSONAL LIABILITY FOR WRONGFUL TRADING – RELIEF DURING THE CORONAVIRUS CRISIS
As the UK&rsquo ...
Wednesday, 08 April 20
LESSONS LEARNED FROM SCRUBBER INSTALLATION AND OPERATION - ABS
KNOWLEDGE TO ELEVATE
At the beginning of this year, the IMO’s global sulfur cap on marine fuels entered into force and shipowners who ch ...
Wednesday, 08 April 20
MARKET INSIGHT - INTERMODAL
With lockdown measures around the globe tightening during the last weeks of Q1, there is finally a feeling that most countries are slowly but stead ...
Tuesday, 07 April 20
SHIPPING MARKET ANALYSIS - ALLIED
With the first quarter of 2020 now firmly written in the books, it is worth examining what we have witnessed so far in the tanker market. Undoubted ...
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- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- The University of Queensland
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
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