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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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Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
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- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
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