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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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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- ASAPP Information Group - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
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