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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, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
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- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
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