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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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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
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