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