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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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Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
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- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
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