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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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- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
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