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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, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
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- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- VISA Power Limited - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- The University of Queensland
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Deloitte Consulting - India
- PTC India Limited - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
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