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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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Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- PTC India Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
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