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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, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
Monday, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that ...
Monday, 11 April 16
WEEKLY CS (I) COAL INDEX FOR 5700 GAR COAL UP 0.03 CENTS, OR ABOUT 0.06 PERCENT, TO $48.21 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.15 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 11 April 16
COAL IS NOT THE ENEMY TO FIGHT - ANDREA CLAVARINO, ASSOCARBONI
COALspot.com: “Coal is not the enemy to fight and electricity production from coal has an environmental impact in its lifecycle similar to na ...
Monday, 11 April 16
FORTY INDIAN COAL IMPORTERS UNDER THE DRI SCANNER FOR OVER-INVOICING : HINDU BUSINESS LINE
The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
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- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
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