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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, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- The University of Queensland
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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