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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, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
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- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- VISA Power Limited - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
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