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