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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, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
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- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
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