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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, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
Tuesday, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
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- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- The University of Queensland
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- PTC India Limited - India
- Planning Commission, India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
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