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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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Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- White Energy Company Limited
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
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