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