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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, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
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