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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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Sunday, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
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- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- VISA Power Limited - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
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