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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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Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
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