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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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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Australian Coal Association
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
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