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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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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
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Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- MS Steel International - UAE
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
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