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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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Wednesday, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
Tuesday, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
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- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
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