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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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Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
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