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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, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
Thursday, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
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- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
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