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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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Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Australian Coal Association
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
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