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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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- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
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