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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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Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
Thursday, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
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- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
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