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