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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, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
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- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
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