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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, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
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- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Bhatia International Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
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