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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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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
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- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- The University of Queensland
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
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