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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, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
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- ASAPP Information Group - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
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