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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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Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- Petron Corporation, Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Planning Commission, India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
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