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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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Tuesday, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
Tuesday, 03 March 20
COAL'S SHARE OF CHINA ENERGY MIX FALLS IN 2019 BUT CONSUMPTION STILL RISING - REUTERS
Coal accounted for 57.7% of China’s primary energy consumption in 2019, the National Bureau of Statistics said on Friday, down 1.5 percentage ...
Monday, 02 March 20
SHIPOWNERS AND OPERATORS COULD FACE DETENTION OF SHIPS FROM 1ST MARCH UNDER IMO RULE - ICS
Port state control authorities will begin to enforce the IMO’s Sulphur 2020 from 1st March, making it an offense for ships to carry fuel that ...
Saturday, 29 February 20
SUPRAMAX SENTIMENT WAS UP IN A FEW KEY AREAS OVER THE LAST WEEK - BALTIC BRIEFING
Capesize
The Capesize market woes related to Coronavirus have now spread through the wider global markets like wildfire. The wider supply and d ...
Thursday, 27 February 20
FOREIGN COMPANIES LIKELY TO SKIP COMMERCIAL COAL BLOCK AUCTIONS - ECONOMIC TIMES
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector. However, giv ...
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- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Romanian Commodities Exchange
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- White Energy Company Limited
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
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