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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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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Australian Commodity Traders Exchange
- Planning Commission, India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
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