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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, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
Thursday, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
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- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- White Energy Company Limited
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
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