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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, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
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- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
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