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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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Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
Friday, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
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- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
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