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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, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Central Electricity Authority - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
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