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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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Monday, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
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- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
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