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