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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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Friday, 19 April 13
FIRST QUARTER OF 2013 PROVEN A POSITIVE SURPRISE FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite ominous predictions regarding the negative performance of the dry bulk market during the – traditionally weak anyway – first qua ...
Thursday, 18 April 13
HANDY: STABLE ; PANAMAX: BUSY WEEK - FEARNRESEARCH
Handy
The Atlantic markets remain stable in this week. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market is bit f ...
Thursday, 18 April 13
FEATURE: PREDICTING THE FUTURE - AND THE PAST - BIMCO
It’s not predicting the future that is problematical, it’s the realisation that you have to relive the past again and again when you fai ...
Wednesday, 17 April 13
INDONESIA SHIPPED 80 MILLION TONS OF COAL IN FIRST QUARTER - COAL DIRECTOR
COALspot.com - Indonesia has exported around 80 million tons of coal including power plant coal in first three months of this year.
Speaking on t ...
Tuesday, 16 April 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS JUMPED 20.87 PER CENT ON WEEK TO 3.07 MMT
COALspot.com - Newcastle port in Australia has loaded 3,077,431 tons of thermal and coking coal for week ended 0700 hours 15 April 2013, Newca ...
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- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
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