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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, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
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