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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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