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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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Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
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- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
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