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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, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
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- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Minerals Council of Australia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
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