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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, 19 July 22
DRY BULK MARKET: CAPESIZE MARKET FIRMS THIS WEEK - BALTIC EXCHANGE
Capesize
Firmer sentiment across both basins pushed the Capesize 5TC route average above the $20,000 threshold this week, closing at $24,209. A ...
Tuesday, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
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- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
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