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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, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
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- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
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