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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, 22 August 13
PANAMAX : PERIOD MARKET IS STILL BEING LED BY STRONGER SENTIMENT IN THE FFA'S - FEARNRESEARCH
Handy
This week started slowly as expected. Indo biz now rate APS around 7k +60k to china and around 8k+80k to India. However, there are some ships ...
Wednesday, 21 August 13
DRY BULK SHIPPING - POSITIVE WINDOW FOR CAPESIZE OWNERS - PETER SAND
By: Peter Sand, Chief Shipping Analyst, BIMCO
Demand:
“Expect the unexpected from the dry bulk market” was what we wrote last time ar ...
Wednesday, 21 August 13
RATES FOR CAPES MOVED DECISIVELY NORTH THIS WEEK - INTERMODAL
COALspot.com - Right when the BDI seemed ready for another dive below the 1000 points level, the Dry Bulk market made significant comeback this week ...
Tuesday, 20 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS FALL 19.15 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 19.15 per cent week on week to 2.39 million mt f ...
Tuesday, 20 August 13
CAPESIZE RATES MORE SENSITIVE TO DEMAND - COMMODORE RESEARCH & CONSULTANCY
COALspot.com : Approximately 71.50 million tons of iron ore is now stockpiled at Chinese ports, 900,000 tons (-1%) less than a week ago, Commodore R ...
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- Planning Commission, India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
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