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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, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
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- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Australian Coal Association
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
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