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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, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of ye ...
Monday, 19 September 16
AFTER YEARS OF COMA, COAL BECOMES THE MOST ATTRACTIVE COMMODITY RIGHT NOW
COALspot.com: China boosted coal imports in recent months. The Chinese government’s drive to cut over capacity pushed up the demand for therm ...
Monday, 19 September 16
THE CAPE INDEX WAS UP 7.28% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined and ending in a slightly negative note this past ...
Friday, 16 September 16
GLOBAL SHIPBUILDING: THE CHALLENGE TO REMAIN 'ACTIVE' - CHRISTOPHER PEARCE, CLARKSONS
The number of ‘active’ shipyards globally has more than halved since the start of 2009, falling to around 400 shipyards at the start of ...
Friday, 16 September 16
U.S. WEEKLY COAL OUTPUT DECLINED 6.2% TO 15.1 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.1 million short ton ...
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- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- The University of Queensland
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
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