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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, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- The University of Queensland
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Planning Commission, India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
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