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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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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Planning Commission, India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
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