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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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Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- Sojitz Corporation - Japan
- Australian Coal Association
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Planning Commission, India
- GMR Energy Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
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