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