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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, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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- The University of Queensland
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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