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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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Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
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- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
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