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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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Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
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- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
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