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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- CNBM International Corporation - China
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