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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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Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- The University of Queensland
- Marubeni Corporation - India
- VISA Power Limited - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
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