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