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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, 15 February 13
2ND ANNUAL INDONESIA MINING 2013 CONFERENCE
Bringing Indonesia's Mining Stakeholders Together Towards Improving Mining Investment Climate & Operations
Following the success of th ...
Friday, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk ma ...
Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...
Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization ...
Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...
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- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Planning Commission, India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
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