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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, 27 July 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN STEADY - CAPT.REDDY
COALspot.com : The freight market seemed to soften this week with BDI , Cape and Panamax indices dropped average 5 percent on week.
The BDI was d ...
Thursday, 25 July 13
CAPESIZE : PACIFIC AND ATLANTIC RATES ARE HOLDING STEADY - FEARNLEYS AS
Handy
The Far East market remains quiet even if some Indo coal trip orders were fed in the market at early this week. Prompt ships passing Singapor ...
Thursday, 25 July 13
SUMMER LULL CHIPPING AWAY RECENT GAINS IN DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In what seems to be establishing as a permanent trend, at least for the time being, the dry bulk market kept on retreating yesterday, even if this r ...
Tuesday, 23 July 13
NEWCASTLE'S COAL EXPORTS CLIMB 17.82% ON WEEK, PORT'S DATA SHOWS
COALspot.com: Newcastle port in Australia has loaded 3,369,865 tons of coal for the week ended 0700 hours 22 July 2013, Newcastle Port Corp. s ...
Monday, 22 July 13
DRY BULK MARKET DIFFICULT TO MAINTAIN POSITIVE DRIVE CLAIMS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has seen a significant recovery in recent weeks, leading most ship classes to earnings above their operating expenses, thus brin ...
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- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
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