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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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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
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