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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
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