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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, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
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