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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
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