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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, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- The University of Queensland
- MS Steel International - UAE
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Australian Coal Association
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
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