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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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Monday, 04 April 16
INDONESIA CS57 COAL INDEX SLIDES SLIGHTLY WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.07 percent week over week to averaging $38.88 per ton on this past Friday, ac ...
Monday, 04 April 16
CAPE INDEX JUMPED 70% WEEK ON WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 01 April 16
ASSESSING THE DRY BULK MARKET AT ROCK BOTTOM - CLARKSONS
While the opening months of the year are typically a weak period for the dry bulk market, the downturn so far this year has been severe. Earnings h ...
Friday, 01 April 16
NINE AM - TIME TO GET AN INDONESIAN LANGUAGE VERSION OF YOUR CHARTERPARTIES - CLYDE & CO
KNOWLEDGE TO ELEVATE
For several years, Indonesian law (Article 31, Law Number 24 of 2009) has required that memoranda of understanding (" ...
Friday, 01 April 16
U.S. COAL PRODUCTION UP SLIGHTLY WEEK OVER WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.6 million shor ...
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- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
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