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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, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. ...
Wednesday, 23 July 14
HARD COAL 2013: THE WORLD'S SECOND-MOST IMPORTANT ENERGY SOURCE AND GUARANTOR FOR THE SECURITY OF ENERGY SUPPLIES DURING TIMES OF CRISIS
Hard coal is again in 2013 the fastest-growing fossil primary energy source in the world. As shown in the BP Statistical Review 2014, it covered ab ...
Tuesday, 22 July 14
INDONESIAN ELECTION RESULT ENCOURAGING FOR FOREIGN INVESTMENT IN ENERGY AND MINING SECTORS - WOOD MACKENZIE
Joko Widodo-Jusuf Kalla has been announced as the official winner of Indonesia's presidential election. Joko Widodo, or Jokowi, is viewed as a ...
Tuesday, 22 July 14
THE CURRENT COAL PRICES ARE UNPROFITABLE FOR MINERS; COAL PRICES WILL GRADUALLY INCREASE - FITCH
COALspot.com: The Fitch Ratings expect the benchmark Newcastle coal prices (currently at about USD70/MT) to gradually increase.
Fitch's la ...
Tuesday, 22 July 14
SUB-BIT FOB INDONESIA COAL Q3' 14 DOWN 5.21%; Q4' 14 DOWN 3.56%; Q1' 15 DOWN 4.75% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 flat on day, weak week on week and on month according to AsiaClear OTC coal swap' ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Planning Commission, India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- The University of Queensland
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
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