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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, 09 February 20
SUPRAMAX: THE ASIAN ARENA STRUGGLED, A 50,000DWT SHIP FIXING A COAL RUN FROM EAST KALIMANTAN TO INDIA AT $2,000 - THE BALTIC BRIEFING
Capesize
The Capesize market endured another dreadful week of calamitous rate level falls, as the usual season low Q1 period combined with rece ...
Friday, 07 February 20
CIL LOOKING TO TAP NON-POWER SECTORS FOR INCREMENTAL COAL, PTI REPORTED
The miner is looking to ramp up production to meet its targets for the current fiscal at a time when the economic slowdown is impacting demand for ...
Friday, 07 February 20
VIRUS - HIT CHINA MAY NEED MORE IMPORTS OF COAL. NOW COMES THE TRICKY PART - SHIPPING IT THERE: REUTERS
China’s domestic coal mines are struggling to ramp up production in the face of the ongoing coronavirus epidemic. That’s a situation th ...
Friday, 07 February 20
CORONAVIRUS IMPACTING THE GLOBAL SHIPPING INDUSTRY - BIMCO
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. T ...
Thursday, 06 February 20
CAPE: WEAK SUPPLY/DEMAND RATIO THE STREETS REMAIN BLOODY FOR THE BIG SHIPS - FEARNLEYS
Cape: With still a weak supply/demand ratio the streets remain bloody for the big ships, and actual spot earnings are close to zero on main short-h ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
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