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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, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
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