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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, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- PTC India Limited - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- The University of Queensland
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
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