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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, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
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- ICICI Bank Limited - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
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