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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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Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Minerals Council of Australia
- PTC India Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Aditya Birla Group - India
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