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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, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
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