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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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- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
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