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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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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
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