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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, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
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