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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, 14 January 20
MABUX: BUNKER MARKET THIS MORNING, JAN.14
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Tuesday, 14 January 20
SHIPPING MARKET ANALYSIS - ALLIED SHIPBROKING
Uncertainty in the global geopolitical sphere seems to have not come to an end along with 2019, as 2020 commenced with renewed tensions between the ...
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DRY BULK MARKET: "THIS IS NOT THE END OF COAL" SAYS IEA - BALTIC EXCHANGE
A historic drop in coal-fired electricity generation will not sway global coal demand from its upward trajectory through to 2024, though growth wil ...
Saturday, 11 January 20
ARE YOU 95% CONFIDENT THAT YOUR VERY LOW SULPHUR FUEL IS ON SPEC AND MARPOL COMPLIANT? - GARD
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Bunker fuel is a commodity and, like all commodities, is produced and sold according to specifications. Bunkers are usual ...
Saturday, 11 January 20
NEW PRICING COULD SPELL TROUBLE FOR CHINA'S COAL SECTOR - CHINA DIALOGUE
Benchmark coal tariffs have been the foundation of China’s electricity pricing since 2004 but this mechanism was replaced on January 1 with a ...
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- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Economic Council, Georgia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
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