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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, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
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- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
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