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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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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- PTC India Limited - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
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