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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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Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
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