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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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Wednesday, 14 March 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
Interest in second hand tonnage remains firm with buyers in the dry bulk sector looking to benefit from rising freight rates that are eventually ex ...
Monday, 12 March 18
DRY BULK MARKET: CAPESIZE MARKET FINDS ITS FOOTING - BALTIC BRIEFING
Capesize
Some relief for owners as the week closed out with the market finding a floor in the East. Rates on the key West Australia/China run loo ...
Monday, 12 March 18
COAL OUTPUT FROM PRIVATE MINERS UNLIKELY TO RISE IN MEDIUM TERM: ICRA
Coal output levels from private commercial miners are unlikely to go up considerably in the medium to short term, given the issues related to land ...
Saturday, 10 March 18
ENHANCED PRODUCTION BY COAL INDIA HELPS DECLINE IN COAL IMPORTS
As per the current import policy, coal is kept under Open General License (OGL) and consumers are free to import coal from the source of their choi ...
Saturday, 10 March 18
THE 'RENOS' - COURT OF APPEAL CLARIFIES CTL CALCULATION AND RIGHT OF ABANDONMENT - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the matter of the “RENOS”, Mr Justice Knowles addressed a number of issues, at first instance, regarding t ...
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- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
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