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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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Monday, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
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- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Australian Coal Association
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
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