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