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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, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
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- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Agrawal Coal Company - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- The University of Queensland
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
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