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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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Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
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- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Posco Energy - South Korea
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- The University of Queensland
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
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