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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, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
Wednesday, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
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- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Planning Commission, India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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