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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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Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
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- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- VISA Power Limited - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
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