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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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Thursday, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
Wednesday, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
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- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
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