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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, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
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- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
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