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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, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
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