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