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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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Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Planning Commission, India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- White Energy Company Limited
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
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