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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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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
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Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- MS Steel International - UAE
- Planning Commission, India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
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