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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 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- The University of Queensland
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
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