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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, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Planning Commission, India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- The University of Queensland
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
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