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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, 02 October 13
HOW LONG WILL THIS LATEST CAPESIZE RALLY LAST? - TASOS PAPADOPOULOS
By Tasos Papadopoulos, SnP Broker, Intermodal
The surge in iron ore trade has translated into a massive boost in daily earnings for capes; with t ...
Tuesday, 01 October 13
DRY BULK MARKET POISED FOR RETREAT ON CHINA HOLIDAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The start of a national weeklong in China as of Tuesday is expected to put a lid in the latest rally of the dry bulk freight market, as has always b ...
Monday, 30 September 13
NEWCASTLE'S COAL EXPORT VOLUME CONTINUES TO SLIP
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 8.38 per cent week on week to 2.67 million mt fo ...
Monday, 30 September 13
PANAMAX CHARTER RATES TOUCHING US$ 18K FOR A TRIP TO NOPAC - CAPT. REDDY
COALspot.com : The freight market continued to remain firm, BDI and the Panamax index up week ended 27 September 2013.
The cape index was fell to ...
Sunday, 29 September 13
API 8 CFR SOUTH CHINA COAL Q3 2014 DELIVERY SWAP GAINED $1.19 M-O-M
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
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- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Planning Commission, India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
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