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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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- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
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