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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, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- White Energy Company Limited
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
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