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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, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Planning Commission, India
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