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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, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Thai Mozambique Logistica
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
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