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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, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
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- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- PTC India Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
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