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