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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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Thursday, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
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- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Planning Commission, India
- Goldman Sachs - Singapore
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