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