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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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Friday, 26 November 21
CHINA FINDS COMPLIANCE PROBLEMS IN COAL PRICE INDEX PROBE - REUTERS
China’s state planner on Wednesday said it had discovered some “noncompliant” behaviour among coal price index providers as it an ...
Thursday, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chai ...
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- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Planning Commission, India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
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