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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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Tuesday, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of se ...
Tuesday, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
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- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- The University of Queensland
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
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