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