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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, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
Wednesday, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
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- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
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