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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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Monday, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Mari ...
Monday, 29 October 18
SUPRAMAX: THE ASIAN AREA SAW FALLING RATES, WITH A 61,000DWT FIXING DELIVERY KOHSICHANG TRIP VIA INDONESIA, REDELIVERY INDIA, AT $10,500 - BALTIC BRIEFING
Capesize
A market of two halves for most of the week with rates in the Atlantic firming and easing in the East for most of the week, but then, ...
Friday, 26 October 18
SHIP OPERATING COSTS EXPECTED TO RISE IN 2018 AND 2019 - MOORE STEPHENS
Total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.
...
Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. T ...
Thursday, 25 October 18
WHAT DOES THE "IMO 2020" REGULATION REALLY SAY? A QUICK GUIDE - BIMCO
KNOWLEDGE TO ELEVATE
The shipping industry has all eyes firmly fixed on the topic, but what exactly do the “IMO 2020” global sulph ...
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- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Minerals Council of Australia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
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