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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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Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Planning Commission, India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
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