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