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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, 13 November 14
MODERN DRY BULK SHIPS' PRICES START FIRMING UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While the main story of the past few weeks has been the rebound of the dry bulk market, which has been a result of increased Chinese iron ore impor ...
Wednesday, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
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- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
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