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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, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- The University of Queensland
- Central Electricity Authority - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- MS Steel International - UAE
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
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