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