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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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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Economic Council, Georgia
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