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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, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- White Energy Company Limited
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
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